Oil prices fall amid broader market selloff, gains in US crude stockpiles

Oil prices fell on Wednesday amid a broader selloff in global financial markets that underscored concerns about economic and fuel demand growth, with a stronger U.S. dollar and reports of rising U.S. crude stockpiles adding to the worries. Brent crude futures fell 36 cents, or 0.56%, to $64.08 a barrel by 0221 GMT. US West Texas Intermediate crude was down 40 cents, or 0.66%, at $60.16. Both contracts extended their losses from Tuesday. Oil markets declined as part of a wider slump in equity markets, with Asian stock markets adding on Wednesday to an overnight drop on Wall Street because of worries stock valuations are stretched, particularly for companies tied to artificial intelligence.