U.S. crude oil storage hammers oil prices

April 2, 2015 2:03 PM

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WTI beating Brent in terms of weekly price momentum.

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 hold above the $50 mark for very long.

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