Bloomberg reported that oil dropped $2.54, or 2.4 percent as U.S. stockpiles rose the most since 2008.

As quoted in the market news:

Crude oil for May delivery dropped $2.54, or 2.4 percent, to $101.47 a barrel on the New York Mercantile Exchange, the lowest settlement since Feb. 14. Prices have increased 2.7 percent this year.

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