Oil Prices Fall On Surprise U.S. Inventory Rise

Oil prices fell on Wednesday, with Brent falling back below $70 per barrel and U.S. West Texas Intermediate crudes dipping below $65, pulled down by a report of increasing U.S. crude inventories that surprised many traders.U.S. WTI crude futures were at $64.86 a barrel by 0201 GMT, down 39 cents, or 0.6 percent, from their previous settlement.
Brent crude futures were at $69.75 per barrel, down 36 cents, or 0.5 percent. Traders said the dips came after the American Petroleum Institute (API) late on Tuesday reported a surprise 5.3 million barrels rise in crude sticks in the week to March 23, to 430.6 million barrels. For more information please visit : www.paceresearchindia.com and Call : 8817774774