Crude oil is tumbling again.
WTI crude prices, the US benchmark, are down by 3.3% at $45.12 per barrel as of 10:35 a.m. ET. Meanwhile, Brent crude prices, the international benchmark, are down by 3.2% at $46.61 per barrel.
Minutes earlier, Energy Information Administration (EIA) reported that US crude oil inventories came in at 14.420 million, significantly above the forecast at 1.1013 million. A higher number than expected suggests weaker demand than expected.
This is the largest weekly build in crude inventories since at least 1984, according to analysts at Bespoke Investment Group.
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