Oil Prices Drop 2 Percent With Inventories Rising
- 5 years ago
According to Reuters, oil prices are down over 2-percent, with US crude oil hitting a three-year low.
The international benchmark for crude oil lost 1.1-percent, bringing a barrel of Brent crude down to $59.61.
West Texas Intermediate dropped 2.5-percent down to $49.09 a barrel, shedding $1.32 on the day.
US crude futures started to fall after data showed that inventories at a storage hub in Cushing, Oklahoma rose by 1 million barrels over one week.
The international benchmark for crude oil lost 1.1-percent, bringing a barrel of Brent crude down to $59.61.
West Texas Intermediate dropped 2.5-percent down to $49.09 a barrel, shedding $1.32 on the day.
US crude futures started to fall after data showed that inventories at a storage hub in Cushing, Oklahoma rose by 1 million barrels over one week.