• Oil drops after data shows unexpected jump in US inventories

    6 monthes ago - By Business Insider

    Oil shed more than 1% on Wednesday.
    EIA data showed US crude inventories unexpectedly rose.
    Watch oil trade in real time here.
    Oil prices slumped Wednesday, extending losses after their worst month in two years, after data showed US crude inventories rose unexpectedly.
    West Texas Intermediate dropped 1.2% to $67.60 per barrel at 10:35 a.m. ET. Brent, the international benchmark, was down 1.7% to $72.99 a barrel.
    US commercial crude inventories jumped by 3.8 million barrels to in the week ending July 27, the Energy Information Administration said .
    Analysts had expected a drawdown of...
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