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Oil Drops Below $45; U.S. Stockpiles May Speed Price Collapse

2015-01-13 05:59:00| Climate Ark Climate Change & Global Warming Newsfeed

Bloomberg: Oil extended losses to below $45 a barrel amid speculation that U.S. stockpiles will increase, exacerbating a global supply glut that's driven prices to the lowest in more than 5 1/2 years. Futures fell as much as 4.1 percent in New York, declining for a third day. Crude inventories probably gained by 1.5 million barrels last week, a Bloomberg News survey showed before government data tomorrow. The United Arab Emirates, a member of the Organization of Petroleum Exporting Countries, will continue...

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