Oil prices slipped on Wednesday after United States inventory data showed a surge in gasoline inventories due to weak fuel demand following US Memorial Day weekend, traditionally the beginning of the peak summer driving season.
Brent crude futures fell 23 cents, or 0.3 per cent, to $71.99 a barrel by 12:35 p.m. EDT (1635 GMT), having earlier touched $72.83, their highest since May 20, 2019.
US West Texas Intermediate (WTI) crude fell 43 cents, or 0.6 per cent to $69.62 a barrel, after reaching $70.62, its highest since Oct. 17, 2018. Despite a…
