Oil Extends Biggest Drop in Two Months as Dollar and Shale Weigh - Bloomberg

Oil Extends Biggest Drop in Two Months as Dollar and Shale Weigh - Bloomberg:

"WTI fell for a fifth day as surging U.S. output and a rising dollar sent crude to its biggest drop in two months.

Futures fell as much as 0.9 percent in New York after Department of Energy data showed U.S. crude production jumped to a record 10.25 million barrels a day last week. Investors were also left disappointed after American crude stockpiles rose, countering an earlier industry report that had pointed to a decrease. The Bloomberg Dollar Spot index traded higher on Thursday.

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