Oil Slides as U.S. Supplies Jump Most in Two Months
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Oil dropped as a government report showed U.S. crude inventories increased the most in two months.
West Texas Intermediate fell 2.2 percent in New York while Brent slipped 2.4 percent in London. Stockpiles climbed 7.27 million barrels in the week ended Dec. 19 as imports surged, the Energy Information Administration said. The report was projected to show a 2.5 million-barrel decline, according to the median estimate in a Bloomberg survey of nine analysts. Gasoline supplies advanced to a seasonal record.