Umm salal: Oil prices fell today as US crude inventories rose by the largest amount in three years. Brent crude futures fell 82 cents, or 1.16 percent, to $70.03 a barrel, while US West Texas Intermediate (WTI) crude futures dropped 79 cents, or 1.2 percent, to $64.63.
According to Qatar News Agency, data released yesterday by the US Energy Information Administration showed that US crude oil inventories rose by 16 million barrels last week, the highest level in three years, limiting price gains.