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Bloomberg reported that crude oil futures dropped 1.6% after the U.S. Energy Department report showed increase in stockpiles.
Bloomberg reported that crude oil futures dropped 1.6% after the U.S. Energy Department report showed increase in stockpiles.
As quoted in the market news:
Crude oil for July delivery fell $1.40, or 1.6 percent, to $86.42 a barrel at 11:06 a.m. on the New York Mercantile Exchange. Oil traded at $86.63 a barrel before release of the inventory report at 11 a.m.