Oil prices plunged on Thursday, dropping by the largest percentage since April as the broader market also tumbled.
Prices for the commodity and companies that produce it have run into two problems. After the spring’s huge run-up in stocks, investors are now turning away from assets seen as risky, a category that includes oil names. And some of the positive data that had buoyed oil markets is reversing.
Inventories of both oil and gasoline rose last week, with the amount of crude in storage hitting record levels, according to the Energy Information Administration. The gains come after oil had begun emptying out of