AFP, Singapore :
Oil prices fell in Asia Thursday but losses were curtailed as dealers focused on positive elements of a mixed US energy stockpiles report, analysts said.
West Texas Intermediate for April eased 43 cents to $50.56 while Brent crude for April tumbled 31 cents to $61.32 in afternoon trade.
The US government’s Department of Energy (DoE) said Wednesday that crude inventories rose 8.4 million barrels in the week ending February 20 to a record 434.1 million barrels, more than double the increase expected.
However, the DoE also reported that stockpiles of distillates, which include diesel and heating fuel, slid 2.7 million barrels, while gasoline reserves sank by 3.1 million.
Oil prices fell in Asia Thursday but losses were curtailed as dealers focused on positive elements of a mixed US energy stockpiles report, analysts said.
West Texas Intermediate for April eased 43 cents to $50.56 while Brent crude for April tumbled 31 cents to $61.32 in afternoon trade.
The US government’s Department of Energy (DoE) said Wednesday that crude inventories rose 8.4 million barrels in the week ending February 20 to a record 434.1 million barrels, more than double the increase expected.
However, the DoE also reported that stockpiles of distillates, which include diesel and heating fuel, slid 2.7 million barrels, while gasoline reserves sank by 3.1 million.
