By Claudia Assis and V. Phani Kumar, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude-oil prices moved sharply lower Wednesday, adding to earlier losses after a weekly government supplies report showed an increase nearly five times larger than expected.
Prices also reeled from a firmer dollar and a decline in U.S. stocks in the wake of the release of U.S. Federal Reserve minutes showing officials unlikely to launch additional monetary stimulus.
Crude-oil futures for May delivery CLK2 -2.20% declined $2.45, or 2.4%, to $101.51 a barrel on the New York Mercantile Exchange. The drop follows a $1.22 loss in the previous session and marked the lower prices for crude since mid February.
By Claudia Assis and V. Phani Kumar, MarketWatch
SAN FRANCISCO (MarketWatch) — Crude-oil prices moved sharply lower Wednesday, adding to earlier losses after a weekly government supplies report showed an increase nearly five times larger than expected.
Prices also reeled from a firmer dollar and a decline in U.S. stocks in the wake of the release of U.S. Federal Reserve minutes showing officials unlikely to launch additional monetary stimulus.
Crude-oil futures for May delivery CLK2 -2.20% declined $2.45, or 2.4%, to $101.51 a barrel on the New York Mercantile Exchange. The drop follows a $1.22 loss in the previous session and marked the lower prices for crude since mid February.
