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US Crude Stockpiles Post Surprise Build as Imports Jump

Houston: US crude oil stockpiles rose unexpectedly last week as imports jumped, while both gasoline and distillate inventories fell more than expected, the Energy Information Administration (EIA) said. Crude inventories increased by 244,000 barrels to…

Oil Prices Decline by 2% as Market Sees Downturn

New York: Oil prices slipped 2 percent on Wednesday. Brent crude futures settled down US$1.32, or 1.96 percent, at US$66.12 a barrel, while US West Texas Intermediate crude ended US$1.40, or 2.2 percent, lower at US$62.27.

According to Qatar News A…