Oil prices slumped as much as $3 today after a larger than expected rise in US heating stocks eased worries about a winter fuel deficit.
US crude was down $3.03 a barrel at $46.10 a barrel. London Brent crude fell $1.80 to $43.72 a barrel.
The US Energy Information Administration said distillate stocks, including heating oil and diesel, rose 2.3 million barrels in the week to November 26 to 117.9 million barrels.
Mild weather in the US Northeast, the biggest heating oil market worldwide, has helped soften demand just as refineries lift output after seasonal maintenance.
