WTI Holds Losses After Big Crude Build, Record US Production Oil prices weakened for a second session early on Wednesday as a report showed an unexpected surge in U.S. oil inventories, keeping demand and over-supply concerns top of mind for traders. “API data indicated the largest US crude inventory build in more than three months, with stockpiles rising by 6.5 million barrels last week. If confirmed by the EIA later today, it would mark the biggest gain since late July,” Saxo Bank noted. The unexpected rise in stocks comes amid persistent warnings the oil market is oversupplied as rising production… — Continue at ZeroHedge News : Read More
