Crude oil prices drop as US records a build in inventories

Crude oil prices dropped in Wednesday’s early trade as US recorded a rise in the commodity’s stockpiles. Trump’s tweet on his possible rejection of the stimulus deal has also impacted oil prices. The market is also reacting to the news on the new COVID-19 variant and the likelihood that it is already in the US. On a 4-hour chart, WTI futures were down 1.11% to trade at $46.25. Brent futures are also on a downward momentum, having declined by 0.16% to $49.29.    U.S. records a build in US crude oil inventories On Wednesday, the American Petroleum Institute (API) released