Brent oil price falls below $71

Brent oil price falls below $71

Oil prices fell today after data showed a surprise rise in U.S. crude stockpiles and as Chinese industrial output grew less than expected in April, but prices were supported by mounting tensions in the Middle East.

Brent crude futures were at $71.06 a barrel at 0646 GMT, down 18 cents, or 0.3%, from their last close. Brent ended 1.4% higher on May 14.

WTI crude futures were at $61.33 per barrel, down 45 cents, or 0.7%, from their previous settlement. WTI closed up 1.2% in the previous session, Reuters reported.

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