Muscat: Oil prices today fell more than 1 percent amid news of unexpected increases in US crude and fuel inventories, raising concerns about demand in the world’s largest oil consumer. Brent futures hit a session low of $63.86 per barrel, while US crude futures reached a low of $60.60 per barrel.

According to Oman News Agency, crude inventories rose by 1.3 million barrels to 443.2 million barrels in the week ended 16 May 2025, the US Energy Information Administration (EIA) said.