Wednesday, 2 September 2015

Crude Oil Prices Down On US Oil Inventory

Oil prices fell as much as over 2 percent in early Asian trade on Wednesday, as a stronger than expected build in US crude oil stocks and weaker US manufacturing data fuelled a rout in prices that started in the previous session. 

Brent and US crude finished around 8 percent lower on Tuesday to end a 25-percent three-session surge, the largest three-day gain since 1990. 
That came after oil prices dropped to their lowest level in 6-1/2 years last week. 
This rollercoaster volatility could continue especially if there are similar wild swings in the equity markets, said Ric Spooner, chief market analyst at Sydney's CMC Markets.

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