Oil extends slide after jump in U.S. crude inventories [MarketWatch]
CME Group Inc. - Class A (CME)
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Source: MarketWatch
Oil extends slide after jump in U.S. crude inventories Oil futures extended a slide Wednesday after government data showed a large rise in U.S. crude inventories last week. West Texas Intermediate crude CLU8, -3.48% for September delivery on the New York Mercantile Exchange was down $1.91, or 2.8%, at $65.13 a barrel after the Energy Information Administration said the amount of crude in storage rose 6.8 million barrels in the week ended Aug. 10. Analysts surveyed by The Wall Street Journal, on average, had forecast a 2.4 million barrel decline. The American Petroleum Institute, an industry group, late Tuesday had reported a 3.7 million barrel increase in inventories. September crude had traded around $1.18 lower ahead of the EIA data. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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