Commodity Blog |
| Oil Drops as US Stockpiles Biggest in More Than 20 Years Posted: 03 Apr 2013 05:56 PM PDT Crude oil dropped, posting the biggest loss this year, as US inventories surged. US stockpiles of crude advanced 2.7 million barrels to 388.6 million last week. It was the highest level since 1990. Worse-than-expected macroeconomic indicators added to woes of crude. The employment report from Automatic Data Processing showed smaller growth than was expected and the service industry expanded slower than market participants have hoped [...] |
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