Oil prices drop as U.S. crude inventories show an increase
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Up 31%+, this AI-picked energy infrastructure play is a Middle East conflict win Oil resumes climb after previous session’s respite as Iran supply fears persist Wall Street extends this week’s rebound a day ahead of Fed interest rate decision Oil inventories seen falling to record lows in April amid Hormuz disruptions 55% Off - FLASH SALE (South Africa Philippines Nigeria) 55% Off - FLASH SALE Oil prices drop as U.S. crude inventories show an increase By Commodities Published 03/17/2026, 09:17 PM Updated 03/17/2026, 09:18 PM Oil prices drop as U.S. crude inventories show an increase 0 CL -1.24% MWCLc1 -1.34% LCOmmc1 0.00% LCOmdc1 0.00% By Sam Li and Lewis Jackson BEIJING, March 18 - Oil prices slightly fell on Wednesday morning after sources citing American Petroleum Institute figures showed an increase in U.S. crude inventories. Brent futures dropped $1.15, or 1.11%, to $102.27 a barrel by 0108 GMT, while U.S. West Texas Intermediate crude dropped $1.54, or 1.6%, to $94.67. U.S. crude stocks rose by 6.56 million barrels in the week ended March 13, market sources said, citing API figures on Tuesday. A Reuters poll showed that U.S. crude oil stockpiles were expected to have risen by about 380,000 barrels in the week to March 13. In terms of supply, Iraq’s oil minister said on Tuesday that the Iraqi government and the Kurdistan Regional Government reached an agreement to resume oil exports to Turkey’s Ceyhan energy hub starting on Wednesday. Oil flow from Ceyhan port is expected to start at 10 a.m. local time (0700 GMT) on Wednesday. Libya’s National Oil Corporation said early on Wednesday that flows from the Sharara oilfield were gradually redirected through alternative pipelines after a fire broke out, adding that production remains on tap and there were no casualties. Iran’s security chief Ali Larijani was killed by Israel, Tehran confirmed on Tuesday, the most senior figure targeted since the U.S.-Israeli w...
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