NEW YORK, Oct. 11 (Xinhua) -- U.S. oil prices further dived 3.01 percent Thursday amid a rise in petroleum stockpiles and a deep fall of stock markets.
U.S. commercial crude oil stockpiles increased by 5.98 million barrels in the week ending Oct. 5 and total petroleum stockpiles in the country jumped 11.3 million barrel week on week, according to the latest weekly report released by the U.S. Energy Information Administration on Thursday.
Moreover, investors' risk aversion dominates as U.S. stocks markets continue to see deep losses on Thursday.
As of 11:30 a.m. Thursday, 40 percent of oil production capacity and 29.1 percent of gas production capacity in Gulf of Mexico remained closed due to impacts of Hurricane Michael.
The West Texas Intermediate (WTI) for November delivery fell 2.2 U.S. dollars to settle at 70.97 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery lost 2.83 dollars to 80.26 dollars per barrel on the London ICE Futures Exchange. Enditem
