NEW YORK and LONDON (Bloomberg) -- West Texas Intermediate crude dropped to the lowest intraday level in three years as Saudi Arabia cut prices for crude exports to U.S. customers amid speculation that stockpiles increased. Brent extended losses in London. Futures fell as much as 3.7% to $75.84/bbl, the weakest since Oct. 4, 2011. Saudi Arabian Oil Co. reduced December differentials for all grades it ships to the U.S., while supplies to Asia and Europe were priced higher, according to an emailed statement Nov. 3. U.S. crude inventories climbed by 1.9 MMbbl last week to a four-month high, a Bloomberg News survey shows before government data on Nov. 5
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U.S. oil falls to 3-year low on Saudi price cut as supply gains
![U.S. oil falls to 3-year low on Saudi price cut as supply gains]()
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