Brent Crude Declines After Topping $80 as U.S. Equities Sink

WTI Dips After API reports builds in crude and fuel stocks
Goldman, BofA are among those forecasting higher prices

WATCH: The energy crisis is “not unique to Europe, it’s not unique to energy, it’s a broad-based old-economy problem,” says Goldman Sachs’s Jeff Currie.Source: Bloomberg

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By Julia Fanzeres and Jessica Summers

September 27, 2021 at 11:31 PM UTC

Updated on

September 28, 2021 at 9:34 PM UTC

This article is for subscribers only.

Oil in New York extended declines late Tuesday after an industry-funded report showed crude and fuels stockpiles rose last week.

In after-hours trading, West Texas Intermediate crude fell as much 1.6% after the American Petroleum Institute reported a 4.13 million barrel increase in crude inventories. If confirmed by the U.S. government on Wednesday, it would be the first gain in eight weeks.