Oil Prices Lower in Asian Session

Oil prices fell as much as over 2 percent in early Asian trade on Wednesday, as a stronger than expected build in U.S. crude oil stocks and weaker U.S. manufacturing data fueled a rout in prices that started in the previous session.

Brent and U.S. crude finished around 8 percent lower on Tuesday to end a 25-percent three-session surge, the largest three-day gain since 1990.

That came after oil prices dropped to their lowest level in 6-1/2 years last week.


Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza