WASHINGTON (dpa-AFX) - Crude oil prices fell on Wednesday, extending recent losses, as data showing an unexpected big jump in crude inventories outweighed possible supply disruptions due to Hurricane Milton and Middle East tensions.
West Texas Intermediate Crude oil futures for November ended down $0.33 or about 0.45% at $73.24 a barrel.
Brent crude futures settled at $76.58 a barrel, down $0.60 or about 0.78%.
Data from the Energy Information Administration (EIA) showed crude inventories jumped by 5.8 million barrels to 422.7 million barrels last week, nearly three times the expected increase of about 2 million barrels.
Gasoline stockpiles dropped by 6.3 million barrels last week, the EIA data showed.
A downward revision by EIA in its demand forecast for 2025 weighed as well on oil prices. The EIA is citing economic slowdowns in China and North America as the reasons for the downward revision in its oil demand forecast.
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