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.
Via CNBC
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza