Crude Oil Prices Dropped amidst Double-Digit Increase in Inventory

Crude oil prices were pressured as US inventory showed double-digit increase last week. Saudi Arabia suggested that oil fundamentals improved but mainly driven by the Kingdom's bigger-than-promised output cut. The front-month WTI contract fell for a second consecutive day, losing -0.11%, to 53.14. The Brent contract slipped -0.16% to settle at 55.92.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/crude-oil-prices-dropped-amidst-double-digit-increase-in-inventory-2017030834340/