Oil Prices Plummet 3% on US Inventory Build, Inflation

U.S. crude oil prices continued to plummet on Wednesday, falling over 3% and Brent crude right behind it, shedding over 2.8% on a surprise U.S. inventory build and uncertainty about interest rate cuts and the future of oil demand growth.  On Wednesday at 11:56 a.m. ET, West Texas Intermediate (WTI) was trading at $79.44, down 3.04%, losing $2.49 per barrel on the day. Brent crude was trading at $83.90 per barrel, down 2.81% for a loss of $2.43 on the day.  Earlier on Wednesday, the Energy Information Administration (EIA) released…