Thursday, 06 March 2014 - 13:06
Oil prices sink on news of rising US crude supplies
Global oil prices sank on Wednesday as investors weighed news of increases in US petroleum stocks and kept a wary eye on the Ukraine crisis.
A barrel of West Texas Intermediate for April delivery, the US benchmark futures contract, finished at 101.45 dollars, down 1.88 dollars from Tuesday's close.
In London trade, Brent North Sea crude for delivery in April sank 1.54 dollars.
The US Department of Energy said the nation's commercial crude-oil inventories rose by 1.4 million barrels in the week ending February 28th.