US Stockbuild Triggers Heavy Losses for Crude

摘要

An unexpected increase in US inventories hammered oil prices on Wednesday, pushing North Sea Brent crude futures below key support at $48 per barrel and taking US crude futures to their lowest close in more than six years. In London, the October Brent futures contract lost $1.65/bbl to close at $47.16. Technical analysts now expect Brent to test intraday lows of around $45 touched in January.