U.S. crude oil stocks rose by 252,000 barrels

After U.S. inventory data published the oil prices initially came under pressure. Brent fell to $43.5 per barrel and WTI reached less than $40 per barrel for the first time since the end of August, notes Commerzbank. 

However, the prices are able to recoup their losses later. The excess supply situation should prevent prices from climbing any higher. But US Department of Energy reveals, US crude oil stocks has increased by 252,000 barrels last week. Similarly, Crude oil stocks at Cushing recorded a sharp increase of 1.5 million barrels.