Article taken from: finance.yahoo.com
By Sonali Paul MELBOURNE (Reuters) – Oil prices fell for a second day on Wednesday on concerns that soaring COVID-19 cases in India will drive down fuel demand in the world’s third biggest oil importer. Brent crude futures for June fell 52 cents, or 0.8%, to $66.05 a barrel at 0157 GMT, after dropping 48 cents on Tuesday. U.S. West Texas Intermediate (WTI) crude futures for June fell 56 cents, or 0.9%, to $62.11 a barrel. […] Further weighing on the market, data from the American Petroleum Institute (API) industry group showed U.S. crude oil and distillate stocks rose in the week ended April 16, according to two market sources, compared with analysts’ forecasts for declines in crude and distillate inventories. […] Distillate stocks, which include diesel, heating oil and jet fuel, rose by 655,000 barrels, compared with analysts’ forecasts for a 1 million barrel decline.
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