Flush supplies push down oil prices
A ‘‘build’’ and a ‘‘Twist’’ knocked oil prices to the floor on Wednesday. In the morning, the government announced a surprise increase, or build, in US oil supplies. That told investors that America has a bounty of crude and less need to import more from foreign countries. Then the Federal Reserve extended an interest-rate reduction program known as Operation Twist, but declined to take more aggressive steps to boost the economy. Together, they sent the price of oil to a nine-month low.