OIL prices eased on Wednesday after a surprise accumulation in US crude stockpiles caused concerns over a global supply excess even as a spike in coronavirus cases powered fears of a sluggish recovery in fuel demand.

Brent crude futures for December delivery were at $42.70 a barrel, down 46 ce3nts, or 1.1%, as of 0730 GMT, while December US WEst Texas Intermediate (WTI) crude futures dropped 43 cents, or 1%, to $41.27. Both benchmarks increased in the previous session.

Crude inventories increased by 584,000 barrels in one week to October 16 to 490.6 million barrels, data from industry group the American Petroleum Institute indicated, compared with analysts’ expectations in a Reuters poll for a draw of 1 million barrels.