Concerns over US Supply Sent Oil Prices to Lower End of Recent Ranges

Stock build in US oil inventory dragged down crude oil prices, sending both benchmarks over -5% lower for the day. The front-month WTI contract plunged to a 3-month low of 50.05 before settling at 50.28, down -5.38%. The Brent crude contract fell to as low as 52.93 before ending the day at 53.11, down -5.03%. This also caused the decline in energy shares which in turned led Wall Street down for a third consecutive day.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/concerns-over-us-supply-sent-oil-prices-to-lower-end-of-recent-ranges-2017030934346/