SK: Oil tumbles to new summer low after rise in inventories
EIA data unexpectedly showed a 1.7M rise in U.S. crude inventories versus what had been steady declines in previous weeks.The news has sent WTI crude lower by more than $1 per barrel over the past few minutes to $42.09, a price not seen since April. The XLE is the worst-performing S&P 500 sector today, down 0.7% vs. the broader index which is lower by just 0.1%.
