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Oil prices decline due to the increase in US inventories


Oil prices were little changed on Thursday, as the market tried to balance disparate factors while absorbing an increase in US crude inventories.

Brent crude futures fell three cents to $90.10 a barrel.

US West Texas Intermediate crude futures also fell three cents to $85.36 per barrel.

Oil prices rose about two percent upon settlement yesterday, Wednesday.

The US Energy Information Administration said yesterday, Wednesday, that crude inventories in the United States increased by 1.4 million barrels last week to 421.1 million barrels, exceeding an increase of 240,000 barrels expected by analysts in a poll.

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