Skip to main content
Publish date:

Oil Prices Did Something Unusual as Dow Hit 20,000

Interesting session for oil.

Even though the Dow hit 20,000 on Wednesday, oil prices were falling.

Oil prices dropped after the U.S. Energy Information Administration (EIA) reported a 2.8 million-barrel-build in crude inventories last week. Gasoline inventories also rose. U.S. benchmark WTI crude for March delivery fell to $52 a barrel, while Brent crude futures dropped to $55 a barrel.

Even though oil prices dropped, Dow-components Exxon Mobil (XOM) - Get Exxon Mobil Corporation Report and Chevron (CVX) - Get Chevron Corporation Report were both higher Wednesday.

TheStreet Recommends

Employees of TheStreet are restricted from trading individual securities.