Brent Crude Oil Drops Below $88 as U.S. Crude Stocks Surge 17.4 Million Barrels

Brent crude oil fell 1.9% to $87.32 per barrel after United States crude inventories rose by 17.4 million barrels. Weakening global demand expectations outweighed concerns about Middle East supply disruptions. Brent prices are relevant to Nigeria because they influence the value of the country’s crude exports.