Oil Prices Dip Briefly On U.S. Stockpile Data – 9 October, 2019

U.S. crude inventories rose by 2.9 million barrels last week for a record 12.6 million barrels per day before production was cut to its lowest levels in two years. The release of the data caused prices to drop briefly before stabilizing. International Brent crude futures were down 11 cents or 0.2% to $58.21 per barrel. U.S. West Texas Intermediate futures dropped 11 cents or 0.2% to $52.48 per barrel. The U.S. is currently the worlds biggest oil producer.