Crude Plunged as API Estimated Huge Build at Cushing

Crude oil resumed the losing streak as industry-sponsored API estimated a huge increase in crude inventory. Further deceleration in China's industrial production growth also weighed on the commodity. The front-month WTI contract dropped to a 2-week low of 42.62 before ending that day at 42.93, down -2.90%. The Brent contract plunged to a 3-month low of 45.62 before settling at 45.81, down -3.44%.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/crude-plunged-as-api-estimated-huge-build-at-cushing-2015111231723/