The prices of oil futures declined on Wednesday after the American Petroleum Institute (API) was said to have reported a weekly rise in the United States inventories. Later in the day, the Energy Information Administration will unveil a similar update.
West Texas Intermediate (WTI) for settlements in May dropped by 1.13% at 5:20 am ET to sell for $80.71. At that minute, Brent for the same month's deliveries decreased by 1.12% to go for $85.29 per barrel.
