Oil prices slip on surprise U.S. crude build

Washington, Oil prices dropped almost 1% following a surprise build in U.S. crude inventories, with investors waiting to see if a new round of tariffs by Washington on Chinese goods would come into force on Sunday, according to Washington Post.

Brent futures settled at $63.72 per barrel, down 62 cents, while West Texas Intermediate crude fell 48 cents to settle at $58.76 per barrel.

“U.S. crude stockpiles rose unexpectedly last week, while gasoline and distillate inventories jumped sharply higher,” the U.S. Energy Information Administration said.

Source: Jordan News Agency