Brent oil falls to lowest price since 2021 as US crude stocks surge

Price of Brent crude down by 3.36% to $68.65; price of main US crude contract, fell 4% to $65.53

By AFP
March 06, 2025
Working oil pumpjacks on the outskirts of Maricopa in Kern County, California, on September 21, 2023. — AFP
Working oil pumpjacks on the outskirts of Maricopa in Kern County, California, on September 21, 2023. — AFP

LONDON: The price of the major international oil contract, Brent crude, fell to its lowest level since 2021 following data showing that US crude stocks surged.

Around 1610 GMT the price of Brent crude was down 3.36 percent to $68.65, shortly after the release of data showing a higher-than-expected increase of 3.6 million barrels in US crude stocks last week. The price of the main US crude contract, fell four percent to $65.53.