Oil falls as U.S. inventory build stokes supply fears – ZAWYA

Oil falls as U.S. inventory build stokes supply fears – ZAWYA

Oil falls as U.S. inventory build stokes supply fears | ZAWYA MENA Edition HomeMarketsCommoditiesArticleOil falls as U.S. inventory build stokes supply fears Brent crude futures fell 11 cents, or 0.3%, to $42.97 a barrel    The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. PTOKYO  - Oil prices dipped on Wednesday as industry data showing a build in U.S. crude stockpiles added to worries about oversupply while a surge in coronavirus cases in the United States and other areas cast doubts over a pick-up in fuel demand.Brent crude futures fell 11 cents, or 0.3%, to $42.97 a barrel by 0642 GMT. U.S. West Texas Intermediate (WTI) crude futures dropped 11 cents, or 0.3%, to $40.51 a barrel, holding to the narrow range of the past few weeks."The market has a lot of concerns about an rise in the COVID-19 cases, in the United States in particular," said Victor Shum, vice president of energy consulting at IHS Markit.Brent crude futures fell 11 cents, or 0.3%, to $42.97 a barrel by 0642 GMT. U.S. West Texas Intermediate (WTI) crude futures dropped 11 cents, or 0.3%, to