Oil Holds Losses As U.S. Crude Inventories Rise

MarketWatch Pulse

Oil futures remained lower Wednesday after the Energy Information Administration said U.S. crude inventories unexpectedly rose last week. The agency said stockpiles rose by 1.9 million barrels. Analysts surveyed by The Wall Street Journal had forecast stocks to fall by 100,000. Ahead of the data, January WTI oil slumped to a new four-year low after closing Tuesday at its lowest level since September 2010. Oil remains down 9 cents, or 0.1%, at $74.01 a barrel.

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