Light, sweet crude plunged Thursday after the Energy Information Administration (EIA) reported an unexpected gain in oil inventories.
Oil prices dropped $1.32 to end at $84.23 a barrel on the New York Mercantile Exchange while Brent crude settled at $111.11 a barrel,
Meanwhile, a Chinese government report Thursday provided evidence of an economic slowdown in the world's second-largest oil-consuming country. The report showed a decrease in the country's crude demand, with September crude imports falling 12.2 percent from the previous year.
Prices for WTI fluctuated within an intraday range of $83.17 and $85.39, and $109.15 to $111.60 for Brent crude.
Despite bearish U.S. inventory reports, front-month natural gas futures ended higher Thursday at $3.53 per thousand cubic feet on the
After fluctuating between $2.71 and $2.77, November gasoline added a penny to settle at $2.76 a gallon.
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