Oil Prices Fall as Market Awaits U.S. Inventory Data

Published 02/26 2014 07:47AM

Updated 02/26 2014 07:49AM

Oil prices edged lower in Asia Wednesday as market players tried to assess U.S. demand with the approach of warmer weather.

Anticipation of a buildup in U.S. crude inventories also helped send prices lower. Benchmark U.S. crude for April delivery was down 11 cents to $101.74 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 99 cents to close Tuesday at $101.83.

Investors are waiting for a weekly fuel inventories report from the U.S. Energy Department for clues about the strength of demand. It is due later today.

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