Oil tumbles 5% on weak global economic data, U.S. crude build
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NEW YORK (Reuters) - Oil prices sank roughly 5% on Wednesday after disappointing economic data from China and Europe revived global demand fears and U.S. crude inventories rose unexpectedly for the second week in a row. Brent crude dropped $2.90, or 4.7%, to $58.40 a barrel, by 1:08 p.m. EDT (1708 GMT), erasing the previous session's sharp gains after the United States moved to delay tariffs on some Chinese products.The global benchmark rose 4.7% on Tuesday, its biggest daily percentage gain..