Oil Falls Below $40 On Fears Of Rising Crude Stocks

Oil prices dropped early on Wednesday, with WTI Crude sliding below $40 a barrel, after the API reported a larger-than-expected crude inventory build on Tuesday and the market reflected fears of a second wave of coronavirus infections in many countries, including in the United States.   As of 9:10 a.m. EDT on Wednesday, before the EIA’s weekly inventory report, WTI Crude was trading down 1.39 percent at $39.85, and Brent Crude was down 1.17 percent on the day at $42.14.   On Tuesday, the American Petroleum Institute…