Key Points
HOUSTON (Reuters) -Oil prices edged lower on Wednesday after U.S. crude inventories rose unexpectedly and as worries that a wider Middle East conflict could threaten production in one of the worlds major regions for crude production eased slightly...
U.S. West Texas Intermediate crude futures fell 55 cents, or 0.7%, to $77.77 per barrel...
U.S. crude inventories rose by 1.4 million barrels, compared with estimates for a 2.2 million barrel drop, data from the U.S. Energy Information Administration showed..
However, U.S. consumer prices rose moderately in July and the annual increase in inflation slowed to below 3% for the first time since early 2021, further strengthening expectations the Federal Reserve will cut interest rates next month...
Providing a floor for crude prices, Libyas Waha oil companys production was reduced by 115,000 barrels per day due to maintenance on the pipeline pumping oil from the Waha field to Es Sider port, a company source told Reuters on Wednesday...
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