Oil extends losses as US inventories rise

FXStreet (Córdoba) – Oil prices extended losses on Wednesday after data showed US crude inventories unexpectedly increase last week.

Energy Information Administration said US crude inventories rose by 2.6 million barrels in the week ended Dec. 25 against expectations of a 2.5 million barrels decrease.

West Texas Intermediate oil futures for February fell further and hit a low of $36.40 a barrel. WTI was last trading 3.3% down at $36.58 a barrel.

Oil prices extended losses on Wednesday after data showed US crude inventories unexpectedly increase last week.

(Market News Provided by FXstreet)