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* Brent futures down 0.4%; WTI futures off 0.5%
* US crude inventories up 2.8 million barrels last week – EIA (discounted prices)
By Koustav Samanta and Colin Packham
SYDNEY, March 28 (Reuters) – Oil prices fell on Thursday, extending their losses for a second consecutive session, following a surprise surge in crude oil inventories in the United States.
Brent International crude oil futures were trading at $ 67.56 per barrel at 07:48 GMT, down 27 cents (0.4%) from their last close. Brent closed down 0.2% on Wednesday.
WTI (West Texas Intermediate) futures contracts in the United States were $ 59.09 per barrel, down 32 cents or 0.5% from their latest settlement. WTI fell 0.9% on Wednesday.
Prices were influenced by rising US inventories, although badysts pointed to support from the efforts of the Organization of the Petroleum Exporting Countries (OPEC) and unaffiliated allies like Russia, known as OPEC +, to reduce production.
"Today's downturn does not distort the short-term bullish argument that OPEC's production cuts and supply disruptions will override global growth concerns and rising global oil prices." US production, "said Edward Moya, Senior Market Analyst at OANDA.
US inventories of crude increased by 2.8 million barrels last week, while badysts forecast a decrease of 1.2 million barrels, announced the US Energy Information Administration.
Crude exports fell by 506,000 barrels a day, EIA said.
Russia's oil producer, the main non-OPEC ally, supported oil price support averaging 11.3 million barrels a day in March, according to one source, compared to 11.34 million barrels a day. barrels a day the previous month. (Report by Colin Packham in Sydney and Koustav Samanta in Singapore, edited by Richard Pullin)
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