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Crude and refined products futures and Brent crude fell in early trade Wednesday after preliminary data from the API showed across-the-board builds occurred in U.S. crude and petroleum inventories last week.
Oil futures nearest delivery on the New York Mercantile Exchange and Brent crude traded on the Intercontinental Exchange settled Wednesday's session sharply lower.
Oil futures and Brent crude extended gains into early morning hours Tuesday following the decision from the OPEC+ coalition to maintain gradual production increases into November even as global shortages of gas and coal are set to boost demand for petroleum products this winter.
Oil futures traded on the New York Mercantile Exchange and Brent crude on the Intercontinental Exchange rallied for the second consecutive session Tuesday.
Oil futures and Brent crude extended gains into early morning hours Tuesday following the decision from the OPEC+ coalition to maintain gradual production increases into November even as global shortages of gas and coal are set to boost demand for petroleum products this winter.