« Backseat Driver: NASCAR could do with a Lewis Hamilton | Main | Chrysler to increase international dealerships »

Oil slumps nearly $2 on U.S. stockpile surprise

LONDON - Oil fell nearly $2 a barrel on Wednesday after a U.S. government report showed larger-than-expected increases in crude and gasoline stockpiles in the world's biggest consumer, according to Reuters News Agency.

The U.S. Energy Information Administration said crude stocks rose by 6.9 million barrels last week, well over the 100,000 barrels forecast by analysts. Gasoline stocks were up 1.8 million barrels, almost double the market forecast.

Posted by   at 2:27 PM to Oil | Permalink

Comments

Post a comment

Please be civil. Vicious comments, personal attacks and profanity won't be published.

Name:

Email Address:

URL:
Remember Me? YesNo

Comments: (you may use HTML tags for style)