Oil prices drop as Venezuela resumes exports and US crude stocks surge
Oil prices fell as Venezuelan exports resumed and U.S. stocks rose. Brent and WTI dropped over 0.8 percent, ending four days of gains as supply focus returned.
Insights:
Oil prices retreated on Wednesday as the global energy market recalibrated from geopolitical concerns to supply-demand fundamentals. Brent Crude Oil futures dropped 55 cents, or 0.84 percent, to settle at $64.92 per barrel at 0900 GMT. Similarly, WTI Crude Oil fell by 52 cents, or 0.85 percent, to $60.63 per barrel. This downturn ended a four-day winning streak and was primarily driven by the resumption of crude shipments from Venezuela 
VEand unexpected growth in inventories within the US 
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