Oil Dips With Interest Rates and Inventories in Focus

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Okla., on April 21, 2020. Drone Base/Reuters

LONDON—Oil futures dipped slightly on Thursday, with trader expectations of further interest rate hikes countered by potentially bullish U.S. oil inventory data after preliminary figures showed a fall in stocks.

Brent futures eased by 47 cents, or 0.6 percent, to $76.65 a barrel at 0840 GMT and U.S. West Texas Intermediate (WTI) crude futures were down 44 cents, or 0.6 percent, at $72.09.