Distillate fuel stockpiles, including diesel fuel and heating oil, rose by 4.Both contracts rose to their highest in three months on Monday but some analysts think the market has risen too far, too fast as the coronavirus pandemic sweeps across the world with new infections posting daily highs. Distillate fuel stockpiles, rose by 4.3 million barrels, outpacing expectations for a 3 million barrel increase.

Official government figures on stockpiles from the Energy Information Administration are due later on Wednesday.West single screw barrel Texas Intermediate (WTI) futures declined 68 cents, or 1.end-ofTags: oil prices, crude, us crude, brent crude, crude oil prices, fuel prices, oil supply, stockpiles, oil inventories, oil demandLocation: Japan, Tokyo-to, TokyoRelated StoriesOil prices rise as easing of lockdown spurs fuel demandOil prices inch higher after OPEC+ extends output cuts to end-July.U.4%, at $40.While layoffs fell in the U.S.

Brent crude futures fell 57 cents, or 1.7 million barrels. (AFP Photo)TOKYO: Oil prices fell on Wednesday as an industry report showed a rise in crude and fuel inventories in the United States, renewing concerns about oversupply and slumping fuel demand in the world’s largest crude consumer.

"The slide in Brent most likely fits into the profit-taking category after an extended run for oil with no new fundamental data that would justify a shift in sentiment,” said Stephen Innes, chief global markets strategist at AxiCorp. in April, hiring hit a record low indicating it will take many years for a recovery in the labour market in the world’s biggest economy.

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