| The most volatile oil market in three years was hit with another sharp swing on Wednesday, as a huge buildup in crude supplies sent U.S. prices to their biggest loss in two months. Crude oil for May delivery slid 6.6%, a day after rising 3.5% to set a high for the year.
Prices have moved more than 2% up or down on 42 trading days this year, more than the total number of such moves in any of the past three years. Wednesday slide was triggered by a report from the U.S. Energy Information Administration showing the nation’s crude stockpiles soared to a new record last week, posting the biggest increase in 14 years as oil production rose...............................................Full Article: Source
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