Crude oil drops despite fall in stockpiles| MENAFN.COM

Tuesday, 25 January 2022 04:44 GMT

Crude oil drops despite fall in stockpiles


(MENAFN- ProactiveInvestors)

West Texas Intermediate oil fell overnight as traders and investors ignored a fifth straight weekly decline in U.S. crude stockpiles.

Instead the focus was on a big build in distillates including diesel as the peak season for U.S. road travel began.

U.S. crude futures closed down 2.6% at US$59.64 a barrel.

Front-month Brent futures fell 2.4% to US$63.90 a barrel.

 

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