Downward pressure on oil price

Crude Investing News reports crude price fell about 40 cents this week.

Weak crude demand and rising inventories have kept prices from rising higher. Storage facilities for crude oil in the U.S. have been swelling since the end of February, bloating to a nearly 19-year high last week. The signs were clear though. U.S. fuel consumption in the first quarter fell to the lowest for that period in 11 years, the American Petroleum Institute said yesterday in its monthly report.