Oil Falls to Lowest Level in Six Weeks as Supplies Surge

Oil tumbled to a six-week low after U.S. crude inventories surged the most since March as production and imports rebounded from Hurricane Isaac.

Futures decreased 3.5 percent after the Energy Department said supplies rose 8.53 million barrels last week, more than eight times what was projected in a Bloomberg survey. Imports arrived at the highest rate since January and output increased. Crude fell earlier on speculation Saudi Arabia is moving to reduce prices.