A worker pours extracted crude oil into a buried drum for heating during a distillation process in the village of Wonocolo, East Java, Indonesia. (Photographer: Dimas Ardian/Bloomberg)

Oil Sinks Into Bear Market as U.S. Storage Jumps Most Since 1990

(Bloomberg) -- West Texas Intermediate crude entered a bear market and Brent tumbled below $60 after U.S. petroleum inventories ballooned, raising fears of a glut as trade disputes threaten demand.