Ammon News - Oil slipped after four days ​of increases on Wednesday as Venezuela resumed exports and U.S. crude and product inventories rose, though fears ‌of Iranian supply disruptions due to deadly civil unrest loomed over the market.

Brent futures were trading down 38 cents, or 0.6%, at $65.09 a barrel at 0720 GMT. U.S. West Texas Intermediate crude was also down 38 cents, or 0.6%, at $60.77 a barrel.

"Oil prices have already priced in quite a bit of geopolitical risk premium over the last few days in the face of rising turmoil in Iran, compounded by drone attacks ‌in the Black Sea," said Suvro Sarkar, an energy analyst at DBS Bank.

Crude stocks in the U.S., the world's biggest oil consumer, rose by 5.23 million barrels in the week ended January 9, the API reported, citing market sources.

Gasoline inventories rose by 8.23 million ⁠barrels, while distillate inventories rose by 4.34 million barrels from a week earlier.
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Reuters