Crude Oil Futures Pick Up Some After Heavy Losses

Crude oil futures are recovering some of the previous day’s losses while concerns about weak demand and a big recent build in inventories continue to weigh on the market. WTI for December is up 1.5% at $74.02 after falling nearly 5% yesterday to a 4-month low. “The downward trend remains in place and more selling should be expected, despite relief rallies,” says Spartan Capital’s Peter Cardillo in a note.