U.S. crude slumps below $70 a barrel after large stock build | Reuters

U.S. crude slumps below $70 a barrel after large stock build | Reuters:

Oil prices fell on Wednesday, with U.S. futures dropping below $70 a barrel for the first time in a month, after U.S. crude stockpiles rose 6.5 million barrels, almost triple what analysts had forecast, while exports dropped.

Oil had been rising this week on worries about Iranian sanctions and tensions between the United States and Saudi Arabia after the death of Saudi journalist Jamal Khashoggi.

U.S. crude oil CLc1 slumped $2.17, or 3 percent, to settle at $69.75 a barrel.