Melbourne-Singapore-SANA
Oil prices fell today after data for the sector showed a sudden increase in US crude inventories, which again fueled concerns about a decline in demand due to the Corona virus pandemic.
Reuters reported that US West Texas Intermediate crude futures fell 19 cents, or 0.4 percent, to $ 53.12 per barrel, after two days of the gains made by crude thanks to expectations of huge spending to mitigate the repercussions of Covid 19 under the administration of the new US President, Joe Biden.
Brent crude futures fell 16 cents, or 0.3 percent, to $ 55.92 a barrel.