India, July 3 -- Crude oil settled lower on Thursday as excess US inventories and an upcoming OPEC+ meeting triggered supply side concerns.
WTI Crude Oil for August delivery closed, down by $0.45, to settle at $67.00 per barrel.
September month Brent Crude was last seen trading, down by $0.29, to $68.82.
Yesterday's data from Energy Information Administration showed that crude oil inventories rose by 3.8 million barrels to 419 million barrels for the week ending June 27. Total motor gasoline stocks rose by 4.2 million barrels to 232.1 million barrels, suggesting summer season demand is not peaking as expected.
Net US imports rose by a record 2.9 million bpd to 4.6 million bpd but US crude exports fell by 2.0 million bpd to 2.31 million ...