By Georgina McCartney
HOUSTON, Aug 26 (Reuters) - Oil prices fell on Wednesday, as investors monitored talks between Iran and Oman on the Strait of Hormuz and a smaller-than-expected rise in U.S. crude stocks curbed losses.
Brent crude futures were down 71 cents, or 0.8%, to $87.87 a barrel at 10:48 a.m. EDT (1450 GMT). West Texas Intermediate crude futures were down 48 cents, or 0.58%, at $81.88.
Both benchmarks fell to their lowest levels since August 10 earlier in the session on hopes of an increase in traffic through the strategic strait. They pared some losses after official oil stock data showed U.S. crude inventories rose by less than expected last week. [EIA/S]
Crude inventories increased by 95,000 barrels to 428.9 million barrels in the week ended August 21, the Energy Information Administration said, compared with **** ysts' expectations in a Reuters poll for a 597,000-barrel rise.
#reuters
HOUSTON, Aug 26 (Reuters) - Oil prices fell on Wednesday, as investors monitored talks between Iran and Oman on the Strait of Hormuz and a smaller-than-expected rise in U.S. crude stocks curbed losses.
Brent crude futures were down 71 cents, or 0.8%, to $87.87 a barrel at 10:48 a.m. EDT (1450 GMT). West Texas Intermediate crude futures were down 48 cents, or 0.58%, at $81.88.
Both benchmarks fell to their lowest levels since August 10 earlier in the session on hopes of an increase in traffic through the strategic strait. They pared some losses after official oil stock data showed U.S. crude inventories rose by less than expected last week. [EIA/S]
Crude inventories increased by 95,000 barrels to 428.9 million barrels in the week ended August 21, the Energy Information Administration said, compared with **** ysts' expectations in a Reuters poll for a 597,000-barrel rise.
#reuters
2 months ago
