Khaberni - Oil prices fell on Wednesday as expectations for an increase in U.S. crude stockpiles overshadowed the impact of a temporary production halt at two large fields in Kazakhstan, amid geopolitical pressures resulting from American threats to impose tariffs to control Greenland.
Brent crude futures fell 79 cents or 1.22% to $64.13 a barrel by 02:01 GMT. U.S. West Texas Intermediate crude lost 64 cents or 1.06% to $59.72 a barrel.
Both contracts had increased by roughly one dollar per barrel or 1.5% at the settlement in the previous session after Kazakhstan halted production at Tengiz and Korolev fields on Sunday due to energy distribution issues. The prices also received support from strong economic data from China.
