Oil prices slipped on Wednesday amid a broader market selloff and a stronger US dollar, as investors weighed rising stockpiles and the supply outlook. Brent crude inched down 6 cents, or 0.1 per cent, to $64.38 a barrel, while US West Texas Intermediate (WTI) fell 10 cents, or 0.17 per cent, to $60.46. The drop followed a near two-week low in the previous session as risk aversion swept global markets after a tech-led slump on Wall Street. A firm dollar, supported by expectations that the Federal Reserve will keep rates unchanged in December, also pressured oil prices by making the commodity more expensive for holders of other currencies. Adding to the downside, US crude inventories rose in the week ending October 31, according to the American Petroleum Institute, while OPEC+'s decision to raise output by 137,000 barrels per day (bpd) in December further weighed on sentiment. Although the group plans to pause production hikes in early 2026, analysts said the move is unlikely to lift prices in the near term. Attribution: Reuters
