Brent, US crude fall sharply after EIA says crude stocks surge

Brent and US crude futures extended losses to more than US$2 on Wednesday after Energy Information Administration data showed crude oil inventories in the United States rose nearly 11 million barrels last week.

PHOTO: REUTERS

8 Apr11:15 PM

[NEW YORK] Brent and US crude futures extended losses to more than US$2 on Wednesday after Energy Information Administration data showed crude oil inventories in the United States rose nearly 11 million barrels last week.

Brent May crude was down US$1.91 at US$57.19 a barrel at 10:50 am EDT (1450 GMT), having fallen as low as US$56.90. US May crude was off US$2.30 at US$51.68, having fallen as low as US$51.38.

REUTERS