Commodity Capsule: Brent crude oil slips; gold near 2-month low; copper edge higher | Watch video
Commodity Capsule: Brent crude futures inched lower to $81 a barrel, while US WTI crude futures declined towards $76/barrel.
Commodity Capsule: Oil prices fell from a two-week high, on Thursday after a larger-than-expected jump in U.S. crude inventories, raising demand concerns.
Brent crude futures inched lower to $81 a barrel, while US WTI crude futures declined towards $76/barrel.
Both contracts have lost over $2 a barrel, pressured by a rise in US crude inventories, as refining dropped to its lowest levels since December 2022.
Energy Information Administration said US crude inventories jumped by 12 million barrels to 439.5 million barrels in the week to Feb. 9, far exceeding the forecast for a 2.6 million-barrel rise.
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