West Texas Intermediate (WTI) for June delivery declined by 1.17%, trading at $58.41 per barrel at 12:08 am ET, while Brent crude for July's deliveries fell 1.27%, at $61.42 per barrel.
Oil falls 1% as OPEC+ increases production
Crude oil prices declined over 1% on Wednesday, erasing earlier gains, even after EIA data revealed a bigger-than-predicted decrease in US crude stockpiles, after several OPEC+ members suggested accelerating output hikes, sparking oversupply concerns while US trade tariffs weighed on worldwide demand prospects, News.Az reports citing foreign media.
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