U.S. crude oil storage hammers oil prices
New York (UPI) Apr 2, 2015 - Crude oil prices suffered major losses Thursday after U.S. federal data show commercial crude oil inventories surged to their highest level in 80 years. The price for West Texas Intermediate crude oil, the U.S. benchmark, dropped 2.25 percent in early Thursday trading to sell for $48.96 per barrel. With oil markets favoring the supply side for close to a year, WTI has been unable to hol ... more
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