COMMODITY
Crude oil futures end lower for fourth straight day amid rise in inventories
Mar-06-2025

Crude oil futures end lower for fourth straight session on Wednesday amid concerns surrounding global economic growth the back of new US tariffs on several countries and data showing an unexpected jump in U.S. crude inventories last week. Besides, the OPEC+'s planning to increase output in April and fears of possible recessionary pressure owed to global trade weighed down the sentiments. Meanwhile, data released by the Energy Information Administration (EIA) showed crude oil inventories in the U.S. climbed by 3.6 million barrels in the week ended February 28th, after falling by 2.3 million barrels in the previous week.

Benchmark crude oil futures for March decreased $1.95 or about 2.86% at $66.31 a barrel on the New York Mercantile Exchange. Brent crude for May delivery decreased $1.74 or about 2.45% to settle at $69.30 a barrel on London's Intercontinental Exchange.


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