As U.S. stockpiles of oil rose more than most analysts expected, oil prices on Wednesday fell the most in more than two weeks.
WTI plunged $1.37 down to $61.64 for April 2018 deliveries. That’s a drop of 2.2%.
Brent Crude in London dropped 85 cents a barrel to $65.78
Natural gas prices on the New York Mercantile Exchange remained at $2.67 per MBTU.
As for the oil prices, traders are reportedly focused on the higher than expected buildup in gasoline and oil. And it means the larger gasoline inventories could result in pressure on thee profitability of making the fuel.