WTI Oil Trades Close to Highest in a Week as US Crude Stocks Increase

Bloomberg reported that West Texas Intermediate traded close to the highest level in a week as US stockpiles increased to 389 million bpd, its highest since July 1990.

As quoted in the market news:

WTI for May delivery was at $94.47 a barrel, down 17 cents, in electronic trading on the New York Mercantile Exchange at 9:42 a.m. Sydney time. The volume of all futures traded was 80 percent below the 100-day average. The contract rose 44 cents to $94.64 yesterday, the highest close since April 2.

Click here to read the full Bloomberg report.