Oil prices fell on Wednesday after industry data showed a rise in U.S. crude inventories, suggesting that supplies were not as tight as previously expected.
Profit taking after recent strong gains and the lack of details on China's stimulus measures also weighed on prices.
Brent crude futures were down 0.8 percent at $82.62 a barrel, while WTI crude futures were down 0.8 percent at $78.98.
Prices were coming under pressure after data from the American Petroleum Institute showed U.S. crude stocks rose by about 1.3 million barrels in the week that ended on July 21, denting optimism about the world's economic recovery.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.