Crude oil futures plunged more than $3 on Wednesday, reacting on...
Crude oil futures plunged almost $4 Wednesday reacting on a US government report about the increase in country?s heating oil supplies.
US crude futures for January delivery tumbled $3.64 to $45.49 a barrel on the NYMEX, the lowest level since September 16.
London?s Brent crude futures for January contract fell $3.20 at $42.31 a barrel on the International Petroleum Exchange.
US Energy Department report informed that distillate fuels stockpiles of heating oil, diesel and jet fuel, rose 2 percent to 117.9 million barrels last week, the biggest gain in four months.
Heating-oil supplies jumped 1 million barrels, to 49.9 million last week. Crude oil inventories also gained 849,000 barrels to 293.3 million, the highest since the week ended August 6. Oil stockpiles had increased 8.9 percent in the last 10 weeks, and supplies were 3.2 percent higher than a year ago.
