Oil falls as US crude stockpiles hit a record high
With demand risks back to the fore, both Brent and WTI are set for their worst daily drop in two weeks
11 June 2020 - 12:00
London — Oil prices fell on Thursday, hit by another record build-up in US crude inventories and the US Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year.
Brent crude futures erased Wednesday’s gains, falling 3.6%, or $1.50, to $40.23 a barrel by 8.02am GMT. US West Texas Intermediate (WTI) crude dropped 4%, or $1.57, to $38.03 a barrel...
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