Reply #4: Oil falls to $91 on economic concerns [View All]

[ozymandius]

SINGAPORE - Oil prices slid more than $1 a barrel Thursday after Wall Street's overnight decline and a report that U.S. crude stockpiles rose last week.

Wall Street — despite initially advancing after the U.S. Federal Reserve cut interest rates half a percentage point — closed lower Wednesday as investors collected profits after two sessions of gains.
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A report of growing U.S. crude stockpiles also weighed on oil prices.

In its weekly inventory snapshot, the U.S. Energy Department's Energy Information Administration said crude and gasoline stocks rose 3.6 million barrels each during the week ended Jan. 25. Analysts had expected crude stockpiles to rise 2.3 million barrels and gasoline inventories to rise 1.9 million barrels.

http://news.yahoo.com/s/ap/oil_prices