View full page at forexfactory.com

 

Crude Tumbles to Six-Year Low After Unexpected U.S. Supply Gain

From bloomberg.com

Oil plunged to the lowest level in more than six years in New York after a government report showed that U.S. crude stockpiles unexpectedly increased. West Texas Intermediate slipped 4.3 percent, the most in six weeks, after the Energy Information Administration said crude supplies rose 2.62 million barrels last week. An 820,000 barrel stockpile decline was projected by analysts surveyed by Bloomberg. Stocks of oil and natural gas producers were the worst performers on the Standard & Poor’s 500. Oil has tumbled more than 30 percent since this year’s peak close in June amid signs that producers are maintaining ... (full story)

Story Stats

  • Posted:
  • Category: Breaking News