Another week of big jump in US crude inventory pressured oil prices further. The front-month contract for WTI crude oil slumped to a new 6-year low of US$44.08/bbl before ending the day at US$44.45, down -3.85%. The Brent crude stayed below US$50 and settled -2.28% lower. In the equity market, Wall Street initially firmed as Apple’s earnings beat expectations and as Boeing’s earnings.
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Crude Slumped as US Inventory Surged to Record High
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