Crude oil prices continued to fall Wednesday, hitting fresh 6-year lows despite data showing U.S. crude inventories dropped last week.
The U.S. Energy Information Administration reported that crude supplies dropped by 3.6 million barrels for the week ended Dec. 4.
However, distillate stockpiles, which include heating oil, surged up 5 million barrels last week amid unseasonably warm weather in much of the U.S.
For instance, snow capital Buffalo, NY, has not seen a snowflake yet, crushing regional records for the warmest December.
US oil closed 35 cents lower, or 0.93%, at $37.16 a barrel, the lowest settlement since October 2009.
The material has been provided by InstaForex Company – www.instaforex.com