OIL PRICES

 

Rising Supply And Economic Woes Lower WTI To Around $90/B

The price of WTI settled at $90.66/B on 24 May, up from $89.90/B the day before. It was the first time that WTI had settled under $90/B since November last year and it followed the US Energy Information Administration (EIA) weekly report that put commercial stocks in the US at 382.5mn barrels, their highest level since August 1990. Saudi Arabia is now producing crude at a rate of 10mn b/d,...