(Bloomberg) — Oil sank as production hit a record high and refinery demand slipped, pushing stockpiles higher across the nation.Futures fell as much as 0.8% in New York after Energy Information Administration reported that U.S. commercial crude inventories rose 1.57 million barrels last week and output hit 12.9 million barrels a day. That countered optimism that a U.S.-China trade deal was drawing closer, which may support stronger economic growth and fuel demand.U.S. President Donald Trump told reporters at the White House that the U.S. and China were “in the final throes of a very important deal,” though he told Fox …read more
Source:: Yahoo Finance
