oil complex lacks direction after US crude build deflates overnight rally

摘要

New York-Oil futures settled little changed Dec. 9 after a volatile session following a large US crude oil stock build. NYMEX January WTI settled 8 cents lower at $45.52/b, while ICE February Brent settled up 2 cents at $48.86/b. An overnight crude price rally stumbled in midmorning trading after US Energy Information Administration data showed US commercial crude stocks surged 15.19 million barrels to 503.23 million barrels in the week ended Dec. 4. It was the largest one-week build since the week ended April 10 and pushed inventories to nearly 11% above the five-year average, opening the widest supply overhang since late September.