6/15, 6:29 PM (Source: TeleTrader)
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Oil down after rise in US inventories

Prices of oil futures declined on Wednesday following reports that confirmed that investors in the United States increased over the previous week, while President Joe Biden asked oil companies to provide explanations about the reduction of their respective oil refining capacity since 2020. In addition, the prices have possibly been affected by demand concerns stemming from the resurgence of coronavirus in China.

West Texas Intermediate (WTI) for settlements in July decreased by 1.43% to sell for $117.24 per barrel at 12:18 pm ET, while Brent for deliveries in August was down 1.01%, going for $119.94 per barrel a minute later.

Baha Breaking News (BBN) / MS