Seoul — Oil prices fell on Wednesday as data showed an increase in US crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery of demand.
The rise in US crude and fuel inventories, however, stoked the concern about a surplus and pressured oil prices, as the number of coronavirus infections surpassed 8-million globally and several US states saw their case numbers spike. Gasoline stocks rose by 4.3-million barrels and distillate fuels, which include diesel and heating oil, rose 919,000 barrels.
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