Oil falls nearly 5% as demand worries, inventory builds send prices off 20% from 2023 highs

Oil falls nearly 5% as demand worries, inventory builds send prices off 20% from 2023 highs

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Crude oil futures were down as much as 5% on Thursday as concerns of a supply squeeze faded amid rising inventories and fears of a slowdown in the global economy. On Thursday, West Texas Intermediate (CL=F) crude oil futures fell 4.9% to settle at $72.90 per barrel. Brent (BZ=F) crude oil, the…

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