Oil tankers pass through the Strait of Hormuz. Picture: REUTERS/HAMAD I MOHAMMED
Industry data from the American Petroleum Institute showed US crude inventories rose by 4.1-million barrels last week, compared with analysts’ expectations in a Reuters poll for a draw of 2.4-million barrels. “The risks of the Opec+ alliance failing to reach an agreement are high,” ANZ analysts said in a note on Wednesday.