Oil prices settled slightly lower on Wednesday due to U.S. fuel inventory builds and concerns about wider economic impact from U.S. tariffs. Brent crude futures ended 0.3% lower at $68.52 a barrel, while U.S. West Texas Intermediate crude futures were down 0.2% at $66.38. Gasoline and distillate stockpiles rose more than expected, with crude inventories falling. Gasoline demand decreased during peak summer driving season, reflecting 8.5 million bpd supplied. President Trump’s tariff war continued, with possible retaliation from the European Commission. Short-term U.S. interest-rate futures rose amid speculation of Federal Reserve rate cuts. OPEC’s report forecasted a global economic improvement in the second half of the year, with Chinese state-owned refiners increasing output to meet third-quarter demand. Drone attacks in Iraq’s Kurdistan region have cut crude output by 140,000 to 150,000 bpd.

Read more at Yahoo Finance: Oil settles down; build in US fuel inventories offsets signs demand growing