Markets

Oil plummets 8% on 2-pronged threat from COVID resurgence and inventory increase

Oil prices slumped on Wednesday as investors stared down a larger-than-expected jump in US crude inventories and surging COVID-19 case counts in several states. Inventories leaped by 1.75 million barrels to 545 million barrels last week, according to an American Petroleum Institute report seen by Reuters. Economists expected a build-up […]
Oil plummets 8% on 2-pronged threat from COVID resurgence and inventory increase
Markets

Oil plummets 8% on 2-pronged threat from COVID resurgence and inventory increase

Oil prices slumped on Wednesday as investors stared down a larger-than-expected jump in US crude inventories and surging COVID-19 case counts in several states. Inventories leaped by 1.75 million barrels to 545 million barrels last week, according to an American Petroleum Institute report seen by Reuters. Economists expected a build-up […]
Oil plummets 8% on 2-pronged threat from COVID resurgence and inventory increase