Market watchers said oil also felt the squeeze of lingering trade tensions between the United States and China. Singapore: Oil prices slipped on Wednesday on expectations for a build-up in U.“The market would likely stay in a holding pattern before the story on oil prices unfolds on the back of U. US crude inventories likely saw a build for the second straight week, rising 200,000 barrels in the week ended March 30.26 a barrel at 0626 GMT, down 25 cents, or 0.43 percent, after it rose 0.U.Official inventory data will be published by the Energy Information Administration (EIA) late on Wednesday. petroleum data.Brent crude futures dipped to $67.83 per barrel, down 29 cents, or 0.Russian government comments on prospects for stepping up cooperation with OPEC.Meanwhile, Russian Energy Minister Alexander Novak said on Tuesday that a joint organisation between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries may be set up after the current deal on production cuts expires at the end of this year.Russia’s oil output rose in March to 10.
“Equities have been the most significant external driver for the short-term price direction of oil, with the significant volatility coming (partly) from the perception of a trade war,” said Dominic Chirichella, senior partner at the Energy Management Institute in New York. WTI China conical twin screw barrels Suppliers crude futures were at $63.7 percent on Tuesday.S.S. crude inventories likely saw a build for the second straight week, rising 200,000 barrels in the week ended March 30, a Reuters poll of industry analysts showed on Tuesday.39 percent, from their previous settlement.97 million barrels per day, official data showed earlier this week, prompting some traders to worry the OPEC-non-OPEC alliance to help balance oil markets was under threat.S.U. crude inventories, but Russian government comments on prospects for stepping up cooperation with OPEC to coordinate output cuts braked steeper declines.
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