Oil slides as US stockpiles grow | Financial Times:
Crude prices renewed their recent slide on Wednesday, as traders weighed the outlook for supply after closely watched US data showed a surprise build in domestic stockpiles.
Brent crude fell 1.8 per cent to $61.15 a barrel in morning trading in New York, leaving the benchmark on track for its fourth consecutive weekly fall after numbers released on Tuesday showed a rise in US inventories. US marker WTI fell 2.1 per cent to $52.15, putting it on track to close in a fresh bear market.
The Energy Information Administration said US crude inventories rose 2.2m barrels to 485.5m, bucking forecasts for a decline of 481,000 barrels, according to Reuters. Gasoline stocks grew slightly more than expected, sending futures in New York more than 2 per cent lower.
No comments:
Post a Comment