Crude oil prices continued to fall in Asian markets on Thursday after a report showed an unexpected increase in US crude oil inventories. Crude oil prices rose for four days earlier, hitting a two-week high. The rise came after the US and China agreed on Monday to reduce some of their trade tariffs on each other.
The comments come as the US and Iran continue to talk about nuclear issues, with US officials saying recent talks have gone well. However, many investors are not convinced. Also, according to the US Energy Information Administration (EIA), US crude oil inventories rose by 3.5 million barrels to 441.8 million barrels in the week ended May 9.
The unexpected rise could be due to a temporary surplus or weak demand. The EIA report caused US crude oil prices to fall more than $1 a barrel,
