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International Business Times
International Business Times
Business

U.S. Fuel Inventories Surprisingly Rose and Saudi Arabia Is Seeking To Reroute Exports. Oil Fell.

Oil Saudi Arabia Chris Wright Oman Riyadh United States
Oil is falling on Wednesday after U.S. inventories surprisingly rose and Saudi Arabia offered to reroute exports through Oman. (Credit: Getty Images)

Oil prices are falling on Wednesday after U.S. inventories surprisingly rose and Saudi Arabia offered to reroute exports through Oman.

Brent crude, the international benchmark, dropped 1.29% and clocked in at $107.25 per barrel at 8:29 a.m. ET, while West Texas Intermediate, the U.S. benchmark, fell more than 2% and stood at $103.65 per barrel at the same time.

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