Oil Prices Slip Amid US Inventory Build and Middle East Disruptions

Oil prices declined on Wednesday after a two-day rally following an unexpected build in US crude inventories. Brent crude futures fell $0.73, or 0.67%, to $108.02 a barrel at 0450 GMT, while US West Texas Intermediate futures were down $1.1, or 1.04%, at $104.73 a barrel.

The build in inventories was larger than expected, with crude oil stocks rising by 7.1 million barrels in the week ended September 11. This compared to analysts' expectations for a draw of about 1.6 million barrels, according to a Reuters poll.

Despite the inventory pressure, prices remained resilient due to concerns over disruptions to physical supplies, particularly in Saudi Arabia. The country's East-West pipeline and Yanbu export infrastructure have been affected by attacks on Saudi energy facilities.