Crude oil futures plunged Thursday after the U.S. Energy Information Administration reported that domestic crude supplies declined by 2.2 million barrels for the week ended July 1.
Traders were expecting a much larger draw down because the American Petroleum Institute late Wednesday reported that crude supplies fell 6.7 million barrels.
August WTI crude fell $2.29, or 4.8%, to settle at $45.14 a barrel on the New York Mercantile Exchange, the lowest in two months.
The material has been provided by InstaForex Company – www.instaforex.com