[10/30/19]U.S. oil prices extended declines Wednesday after the Energy Department said domestic crude stocks fell far more than analysts' forecasts last week, suggesting weakening global demand from the world's biggest exporter.
The Energy Information Administration said U.S. crude stockpiles rose 5.7 million barrels in the week ending October 25, with the total topping 438.8 million barrels. Analysts had been expecting a modest increase after the American Petroleum Institute said yesterday that stockpiles fell by 708,000 barrels last week to 436 million.
The EIA also said inventories at the Cushing, Oklahoma hug, a key delivery point for U.S. exports and crucial data point for energy traders, rose by 1.57 million barrels to...
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