Oil prices: Brent drops to 42.79 USD to 40.51

 Texas-ALSHARQIYA  July 8 : Oil prices fell on Wednesday after data in the sector showed an increase in US crude stocks, while high incidence of Corona virus infection in the United States and other regions casts doubt on the recovery of fuel demand.

Brent crude futures fell 11 cents to $ 42.97 a barrel, while US West Texas Intermediate crude futures fell 11 cents to $ 40.51 a barrel, to sit in the limited range in which they moved in the past few weeks. 

The data of the American Petroleum Institute revealed that crude stocks increased last week against expectations of a decline, although gasoline stocks and distillate products fell more than expected.


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