Oil prices traded lower on Wednesday after industry data showed an unexpected build in U.S. crude inventories and reports emerged that Saudi Arabia is offering more crude oil to Asian refiners through ship-to-ship transfer off Oman’s Sohar port.
Brent crude futures slipped 0.8 percent to $107.89 a barrel, while WTI crude futures were down 1.2 percent at $104.52.
Both contracts settled up more than $3 a barrel at their highest levels since May 19 on Tuesday amid expectations of a prolonged disruption of Saudi Arabian oil flows to its Red Sea coast following last week’s drone attack on its east-west pipeline.
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Oil Prices Edge Lower As Supply Concerns Ease
2026-09-16 09:25:51
