Oil prices Drop after US data

Oil prices decreased during trading on Wednesday, after US data showed an increase in US crude stocks.

By 10:30 Moscow time, US West Texas Intermediate crude futures were down 0.42% to $ 47.42 a barrel, while Brent futures fell 0.43% to $ 50.54 a barrel.

The drop came after US data showed that inventories of crude oil, gasoline and distillates in the United States rose at the fastest pace in the last week.

Crude inventories rose by two million barrels in the week ending on December 11th, and reached about 495 million barrels, compared to expectations that indicated a decline of 1.9 million barrels.