Weekly Fundamentals: Renewed Oversupply Concerns Pressure Oil Prices

Energy prices declined last week on renewed oversupply concerns of late. The front-month WTI crude contract dropped -3.83% last week, settling at 44.19, the lowest close in 2 months. Similarly, the Brent crude contract finished the week at 45.69, the lowest close in 2 months and down over -4%. Although US crude inventory dropped -2.34 mmb in the week ended July 15...

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/weekly-fundamentals-renewed-oversupply-concerns-pressure-oil-prices-2016072433326/