Oil Sinks to 10-Week Low After Surprise U.S. Stockpile Build - Bloomberg

Oil Sinks to 10-Week Low After Surprise U.S. Stockpile Build - Bloomberg:

Oil plunged after U.S. stockpiles swelled by the most since March 2017 as investor concerns increased that the U.S.-China trade war and the Turkish crisis will undercut demand.

Futures in New York fell 3 percent on Wednesday to the lowest level since June 6. American crude inventories increased by 6.81 million barrels last week, the Energy Information Administration reported, contrary to analyst estimates for a 2.5 million-barrel decline in a Bloomberg survey.