West TX Oil Drops Below $100 as Stockpiles Rise

U.S. crude futures fell below $100 a barrel in early Asian trade on Wednesday, dropping below the level for a second day as a higher-than-expected rise in inventories in the world’s biggest oil consumer revived demand growth worries.

Concerns of a slowdown in China, the world’s second-largest oil consumer, after recent weak data also weighed on prices.

U.S. crude dropped 64 cents to $99.30 a barrel by 0034 GMT, after settling $1.09 down at $100.03, its lowest since Feb. 11. Brent futures declined 27 cents to $108.28 after ending 47 cents up.

CNBC

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