Oil prices were slightly lower on Wednesday after three days of strong gains.
Brent crude futures for July delivery slipped 0.3 percent to $107.46 a barrel while WTI crude futures for June delivery were down 0.6 percent at $101.58.
Traders booked some profits at higher levels after the International Energy Agency (IEA) released its monthly oil market report.
The IEA said global crude oil supply will plunge below demand this year due to ongoing U.S.-Iran war.
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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.