Oil prices fell further from three-month highs on Thursday despite data showing a historic drop in U.S. crude inventories.
Benchmark Brent crude futures dropped 0.6 percent to $82.70 a barrel, with a firmer dollar and worries about U.S. fiscal position weighing on prices. WTI crude futures were down 0.4 percent at $79.16.
The dollar is finding support from the risk-off mood triggered by Fitch's unexpected downgrade of U.S. sovereign rating.
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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.