NEW YORK (Bloomberg) -- Oil declined to a one-month low as Libya reopened its biggest field and as the market weighs increases in U.S. product inventories and crude output.
Futures fell as much as 2.9% in New York. Crude from the Sharara field in Libya has started flowing to the Zawiya refinery, according to a person with direct knowledge of the matter. Both U.S. gasoline and distillate stockpiles rose by the most since January last week, according to an Energy Information Administration report Wednesday. Nationwide crude output is at the highest level since August 2015.
