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Crude drops on inventory build

Feb. 19, 2015 3:49 AM ETUCO, USO, OIL-OLD, DBO, TWTI, USL, DTO, OLO-OLD, SCO, DNO, BNO, UWTI, DWTI, SZOXF, OILBy: Yoel Minkoff, SA News Editor20 Comments
  • With U.S. inventories expected to hit record highs, crude futures are down 3.8% at $50.81 amid new worries of oversupply.
  • U.S. crude stocks rose by 14.3M barrels last week vs. expectations of a 3.2M barrel increase, the American Petroleum Institute announced after Wednesday's settlement.
  • If U.S. Energy Information Administration data today confirms the large build, it would be the biggest weekly addition in barrels since data became available in 1982.
  • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM

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