The concern that the U.S.-China Trade War would drag until next year is affecting world stock prices. The U.S. crude oil prices fell on Wednesday as the inventory rose to a surprising level. Although The American Petroleum Institute (API) estimated the rise in inventory by 1.41 million barrels; but the actual crude inventory rose by 3.72 million barrels.
Brent futures fell by 45 cents, West Texas Intermediate crude slipped by 36 cents. The demand has slowed down due to the trade war. The U.S. is ready to export crude oil on an annual basis from the coming calendar year.
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