2023-11-18 23:00:00
Written by – Marwa Al-Ghoul Sunday, November 19, 2023 01:00 AM It decreased Oil prices Today, to continue the losses that began in the previous session, amid indications of rising supplies from the United States and concerns regarding declining energy demand from Asia.
Brent crude futures fell 28 cents to $80.90 per barrel by 00:01 GMT, while US West Texas Intermediate crude fell 31 cents to $76.35 per barrel.
The two benchmarks fell by more than 1.5% in the previous session, according to the Oman News Agency.
US crude inventories rose 3.6 million barrels last week to 421.9 million barrels, according to the US Energy Information Administration, far exceeding analysts’ expectations in a Archyde.com poll for an increase of 1.8 million barrels.
US crude production stabilized at a record level of 13.2 million barrels per day.
In Asia, oil refinery production in China declined in October following high levels recorded in the previous month.
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