Oil Prices Continue To Slide On Rising US, EU Inventories

After rebounding by some 5% earlier this week on China demand recovery optimism, crude oil prices have shed over 1% on Thursday, following U.S. inventory data showing increasing stockpiles. At 12.24 p.m. EST, Brent crude was trading down 1.09% on the day at $84.16 per barrel, while WTI was trading down 1.19% at $77.54 per barrel. On Wednesday, the EIA reported another inventory build, putting downward pressure on oil prices. That report came after three weeks of inventory builds. As of the latest EIA report,  455.1 million barrels, U.S. crude…