While you were sleeping: Oil drops on US crude buildup

Wed, 30 Dec 2015

By Margreet Dietz Dec. 31 (BusinessDesk) - Equities continued to take their cue from oil prices, which moved lower after a report showing an unexpected build in US stockpiles Oil prices fell 3 percent after a report by the Energy Information Administration showed inventories rose 2.63 million barrels last week. Analysts in separate polls by Reuters and Bloomberg had predicted a drop of 2.5 million barrels. Wall Street moved lower too. In 12.40pm trading in New York, the Dow Jones Industrial Average fell 0.3 percent, while the Nasdaq Co...

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