An oil pumpjack in a discipline in Grandfalls, Texas, on March 24, 2024.
Brandon Bell | Getty Photos
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Crude oil futures fell for a second day Wednesday as U.S. crude stockpiles rose.
The West Texas Intermediate contract for Could supply dipped 11 cents, or 0.13%, to $81.51 a barrel Wednesday. The Brent contract for Could supply misplaced 22 cents, or 0.26%, to $86.03 a barrel.
U.S. business crude stockpiles, which exclude the strategic petroleum reserve, rose by 3.2 million barrels for the week ending March 22, in accordance with the Power Info Administration. Gasoline inventories rose by 1.3 million barrels.
Home crude manufacturing was unchanged at 13.1 million barrels per day. Merchandise provided to the market, a proxy for demand, fell by 212,000 barrels.
WTI has gained 13.7% for the 12 months whereas the Brent is up 11.6%.
