Source: ForexYard
Crude Oil dropped during Wednesday’s trading after U.S Supply increases more than expected, resulting in losses for the first time in three days.
Crude prices fell 1.9 percent after claims from the government that crude oil inventories climbed 3.86 million barrels last week. The crude oil inventories result took investors by surprise at it comfortably surpassed the forecast figures.The Bloomberg Survey indicated that the inventories were forecast to rise 1.8 million barrels, the result of the report shows that the actual figures were almost double that.
Oil Inventories rose to 369 million, the highest number since the last week of May of this year.
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