Crude Falls as U.S. Supplies Climb to 82-Year High
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West Texas Intermediate crude tumbled as U.S. oil inventories reached an 82-year high amid signs of economic slowdown in the U.S. and China.
Futures fell the most in two weeks after the Energy Information Administration said stockpiles jumped to 395.3 million barrels in the week ended April 26, the most in weekly data started in 1982. According to monthly data, they were last at this level in 1931. U.S. companies added fewer workers than forecast in April and China’s manufacturing grew at a weaker pace, separate reports showed.