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Remains Under Pressure

OIL

Crude futures have extended their slide after retracing around half of the October rise during the session on Wednesday. Extra pressure was exerted after US DOE figures showed a far larger-than-expected build in crude inventories (+2.4mln bbls vs. Exp. +796k) compounded by a similarly sizeable build in gasoline stockpiles (+3.3mln bbls vs. Exp. -69k). WTI sees support at $76.67/75.32 - High Sep 28 / Low Oct 4 while Brent bears will target $79.95/78.75 - High Sep 28 / Low Oct 4.

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