An oil pumpjack in a field in Grandfalls, Texas, on March 24, 2024.
Brandon Bell | Getty Images
Crude oil futures fell for a second day Wednesday after an industry report pointed to large build in U.S. petroleum stockpiles.
The West Texas Intermediate contract for May delivery dipped 41 cents, or 0.5%, to $81.21 a barrel Wednesday. The Brent contract for May delivery shed 49 cents, or 0.57%, to $85.76 a barrel.
U.S. crude stockpiles rose by 9.3 million barrels for the week ending March 22, according to the American Petroleum Institute. The Department of Energy will release official figures on U.S. inventories at 10:30 a.m.
WTI has gained 13.3% for the year while Brent is up 11.3%.
