Oil prices resumed their slide on Wednesday, with West Texas Intermediate crude futures (WTI) dropping more than 4% after U.S. crude inventories unexpectedly surged.
Brent futures were down $1.77, or 2.9% at $60.20 a barrel by 10:54 a.m.
EDT (1454 GMT), having briefly traded in positive territory early in the session. WTI was down $2.17, or 4%, at $51.31 a barrel.U.S. crude, gasoline and distillate stocks rose last week, the Energy Information Administration said on Wednesday.
Crude inventories rose 6.8 million barrels in the week.....