WTI Crude Sheds 2% As Global Demand Concerns Weigh

Recession fears rose to the forefront again on Wednesday following a surprise build in U.S. crude oil inventories that has shaved over a dollar off Brent and WTI prices in afternoon trading.On Wednesday at 1:45 p.m., Brent crude was trading down 1.86% at $76.00 per barrel, for a $1.44 loss on the day, while West Texas Intermediate was trading down 2.13% at $72.14 per barrel, for a loss of $1.57 on the day. Despite the ongoing draws in gasoline and distillates, the market is interpreting the Energy Information Administration’s (EIA) data showing…