WTI crude oil is recouping from a sharp slide witnessed in the previous session to its lowest level in a year amid concerns that economic slowdown would weaken fuel demand. EIA reported U.S. crude stocks fell last week, gasoline and distillate inventories surged, adding to concerns about easing demand. Gasoline stocks grew by 5.3 million barrels in the week to 219.1 million barrels, and distillate stockpiles, including diesel and heating oil, swelled by 6.2 million barrels, the EIA said. WTI crude oil prices are currently off lows and are quoting higher by nearly 1% at $72.67 per barrel. Powered by Commodity Insights
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