Singapore - Sana
Oil prices decreased today due to a sudden increase in crude oil inventories in the United States and due to continuing investor concerns about a decline in fuel demand in light of the tightening of public isolation measures in Europe to combat the Coronavirus pandemic.
Reuters reported that Brent crude futures fell 15 cents, or 0.3 percent, to $ 50.61 a barrel, while US West Texas Intermediate crude futures fell 13 cents, or 0.3 percent, to $ 47.49 a barrel.
Crude stocks increased by two million barrels in the week ending December 11, to about 495 million barrels, according to the American Petroleum Institute.
