Crude oil futures end lower on Wednesday
US crude inventories rose by 5.5 million barrels to 461.6 million barrels in the week ended March 27
Crude oil futures closed lower on Wednesday after President Donald Trump said the US will leave Iran in ‘two to three weeks’ regardless of whether a deal is struck with Tehran. Additionally, a report released by the Energy Information Administration (EIA) said US crude inventories rose by 5.5 million barrels to 461.6 million barrels in the week ended March 27, compared with market expectations for 814,000-barrel rise.
Benchmark crude oil futures for May delivery declined by $1.26 or 1.24% to settle at $100.12 a barrel on the New York Mercantile Exchange. Brent crude for June delivery decreased by $2.81 or 2.70% to settle at $101.16 a barrel on London's Intercontinental Exchange.
