Crude oil futures slumped on Wednesday and WTI Crude declined to six-month low on getting bearish US supply report as the weekly inventories rose more than expected. The US Energy Information Administration (EIA) in its weekly crude oil report said US commercial crude oil inventories increased 3.0 million barrels to 391.40 million barrels last week, the highest since June. While total motor gasoline inventories moved up 1.80 million barrels last week, after dipping 0.30 million barrels in the prior week.
Benchmark crude oil futures for delivery in January ended at $92.18 a barrel, down 1.60% after trading in a range of $92.05 and $93.82 on the New York Mercantile Exchange. In London, Brent oil futures for January delivery declined by 0.15% at $110.72 a barrel on the ICE.
Benchmark crude oil futures for delivery in January ended at $92.18 a barrel, down 1.60% after trading in a range of $92.05 and $93.82 on the New York Mercantile Exchange. In London, Brent oil futures for January delivery declined by 0.15% at $110.72 a barrel on the ICE.
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