KONTAN.CO.ID - SINGAPORE. Oil prices fell for a second day on Wednesday after a report that crude stockpiles in the U.S., the world's biggest oil user, surged and on signs major producers are unlikely to change their output policy at a technical meeting next week. Brent crude futures for May dropped 69 cents, or 0.8%, to $85.56 a barrel at 0150 GMT. The May contract is set to to expire on Thursday and the more actively traded June contract declined 60 cents, or 0.7%, at $85.03. U.S. West Texas Intermediate (WTI) crude futures for May delivery fell 55 cents, or 0.7%, at $81.07.
Oil Prices Fall For a Second Day as US Crude Iventories Increase
KONTAN.CO.ID - SINGAPORE. Oil prices fell for a second day on Wednesday after a report that crude stockpiles in the U.S., the world's biggest oil user, surged and on signs major producers are unlikely to change their output policy at a technical meeting next week. Brent crude futures for May dropped 69 cents, or 0.8%, to $85.56 a barrel at 0150 GMT. The May contract is set to to expire on Thursday and the more actively traded June contract declined 60 cents, or 0.7%, at $85.03. U.S. West Texas Intermediate (WTI) crude futures for May delivery fell 55 cents, or 0.7%, at $81.07.