Huge US oil surplus may fill storage, prices cut

Source: Bloomberg
© Scanpix/RS
A record glut in US oil inventories may stretch the world's largest economy's storage capacity, enhancing a drop in prices and curbing its output, the International Energy Agency reported. West Texas Intermediate oil, the US benchmark, erased earlier gains falling 0.8%, or 38 cents, to $46.67 a barrel during the New York Mercantile exchange as of 9:53 a.m. in London.
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