LONDON, Jan 22: Oil prices tumbled on Thursday as the United States announced a sharp increase in its energy stockpiles, traders said.
New York’s main futures contract, light sweet crude for delivery in March, slumped $2.52 to $41.02 a barrel. Brent North Sea crude for March shed $1.14 to $43.91 on London’s InterContinental Exchange. “We had a big build again in the crude” inventories, said Sucden broker Robert Montefusco, explaining the plunge in prices.—AFP
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