Oil prices reversed course to edge lower on Wednesday as a higher than expected rise in US inventories refocused investors on the risk of oversupply amid a coronavirus-driven slump in fuel demand.
WTI crude futures fell 27 cents, or 1.1%, to $24.29 a barrel by 04:36 GMT, snapping a five-day winning streak.
Brent crude futures dipped 20 cents, or 0.7%, to $30.77 a barrel, ending a six-day rise, Reuters reported.
Oil slipped after a report showed U.S. crude inventories rose 8.4 million barrels last week, more than expected, according to data from the American Petroleum Institute(API) late on Tuesday.
Oil prices dip as supply concerns resurface on rising U.S. stocks
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