WASHINGTON (dpa-AFX) - Oil prices fell finished lower on Friday for the second straight session, although they came up from session lows.
Crude's correction continued after touching a seven-year high earlier in the week on demand optimism and news of short-term supply disruptions.
West Texas Intermediate (WTI) crude futures were down 0.86 percent at $84.81 after falling as much as 3.2 percent earlier.
Investors resorted to profit booking after data showed a build-up in U.S. crude and fuel inventories.
The Energy Information Administration reported on Thursday that U.S. crude inventories rose by 515,000 barrels for the week ended Jan. 14. According to a poll conducted by S&P Global Platts, analysts had forecast a fall of 700,000 barrels.
Gasoline inventories in the United States, the world's biggest oil consumer, rose by 5.9 million barrels to their highest since February 2021, the report showed.
The EIA also reported a slight decline in refinery runs, indicating lower demand for crude.
The International Energy Agency (IEA) said on Wednesday that oil supply will soon overtake demand as some producers are set to pump at or above all-time highs.
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