(Bloomberg) — Oil fell a second day after a report showing a jump in U.S. crude stockpiles raised fresh concerns over excess supply, while doubts are also creeping in over Russia’s commitment to maintaining production curbs.Futures in New York fell as much as 2.6%, adding to Wednesday’s 4.5% drop. The American Petroleum Institute reported that oil inventories rose by 8.73 million barrels last week, according to people familiar. If confirmed by government data on Thursday it would reverse two weeks of declines — an indication that record supply cuts are not draining a massive glut fast enough. Gasoline supplies also …read more
Source:: Yahoo Finance
