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Oil Rally Falters as Growing Stockpiles Outweigh China Demand

  • WTI slips to $81.62 for second drop in last 12 sessions
  • Cushing stockpiles rose by 1.6 million barrels through Jan. 17
Oil Heads For Longest Run Of Monthly Gains Since Early 2018
Photographer: Ian Tuttle/Bloomberg
Updated on

Oil prices fell slightly Monday as rising stockpiles in the US outweighed optimism that Lunar New Year festivities in China boosted demand. 

West Texas Intermediate dipped 2 cents to $81.62 a barrel on Monday, marking only the second time oil prices have dropped in the last 12 trading sessions.