Crude oil prices dropped again on Wednesday after a rebound from the lows touched on Monday amidst data that showed an accumulation of inventories in the U.S.
Data released by the American Petroleum Institute on Tuesday showed an increase of 3.26 million barrels in crude oil stockpile for the week ended March 17, versus expectations of a draw of 1.45 million barrels. The previous week had recorded an accumulation of 1.2 million barrels.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.