Down -1.05% on the day
The price of crude oil has moved back below the $50 per barrel level for the 2nd time today. The price just scooted to a new session low of $49.76 on the break.
The move to new lows is despite a larger than expected fall in crude oil inventories (-6023K vs -500K estimate). The API data last night did show a sharp fall in inventories (-4079K), but today's data did surpass even that number.
