On Wednesday oil prices declined following a statement that revealed a surge in U.S. crude stockpiles. Nevertheless, global markets continued to feel anxious due to an intensifying political pressure in Venezuela, continuing OPEC supply cuts and tightening U.S. penalties on Iran.
U.S. WTI crude futures fell 60 cents to $63.31 per barrel while the Brent crude oil futures dropped to $71.58 per barrel.
Major Asian Markets shut for holidays today
Daily Analysis - 01/05/2019