Brent dips below $64 as US inventories rose unexpectedly
Oil prices fell today to keep losses after the release of US inventories data, which showed an unexpected rise for the first week in 5.
The Energy Information Administration (EIA) revealed that US oil inventories rose by 1.1 million barrels last week, beating forecasts of a drop by 2 million barrels.
While yesterday, the American Petroleum Institute (API) revealed in preliminary data that the inventories rose by 592,000 barrels.
President Trump ordered the Treasury Secretary Steven Mnuchin to impose new sanctions on Iran due to its involvement in the sabotage attacks on Saudi Arabia.
As of 16:27 GMT, WTI fell by 1.7% to $58.3 a barrel, with an intraday high of $59.4 and a low of $58.02.
Brent fell by 1.4% to $63.6 a barrel, with a high of $64.9 and a low of $63.4.
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