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A barrel of oil drops to $ 47.05
Posted On 13 Mar 2015
The price of West Texas intermediate oil (WTI) closed yesterday at $ 47.05 per barrel, affected by new data indicating an increase in the storage of crude oil in the United States.
Oil had a minimal drop in yesterday´s session to $ 46.86. In the end it recorded a decline of $ 1.12 (2.33%) for the delivery of future contracts in April at the New York Mercantile Exchange (Nymex). While Brent crude rose 0.95% to close at $ 57.08.
US market analysts attributed the decline to an increase of two million barrels in reserves of the Cushing terminal (Oklahoma), the most importantdistribution point in the United States.
