New York's main contract for February delivery tanked to levels last seen on May 1 to US$91.6 per barrel, while Brent North Sea crude dropped to US$106.3. The drop to an eight-month low was seen amid high US crude and product inventories indicating that supplies continue to outpace demand. As per a report by the US Energy Information Administration, despite a modest fall in crude stockpiles, inventories remain very high.
10-Jan-14 
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