Wednesday, January 20, 2016

Crude futures falls hitting fresh to its lowest level of 2003

Crude futures are getting slammed again, with U.S. oil falling to its lowest since September 2003 on worries about a global glut. The drop comes after the International Energy Agency, which advises industrialized countries on energy policy, warned on Tuesday that oil markets could "drown in oversupply". Stocks data from the American Petroleum Institute is due later today, while official figures from the Energy Information Administration will be released tomorrow. WTI -2.3% to $27.80/bbl; Brent -2.3% to $28.09/bbl.