Record-high U.S. crude stockpiles weigh on oil prices

Crude oil prices declined in Asia trade Friday after crude inventories in the U.S. rose to a fresh weekly high, adding to a persistently stubborn global glut.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March CLH6, -0.52%  traded at $30.54 a barrel, down $0.23 in the Globex electronic session. April Brent crude LCOJ6, -0.47%   on London’s ICE Futures exchange fell $0.26 to $34.02 a barrel.

The Energy Information Administration dataindicated U.S. crude stocks rose by 2.1 million barrels last week to 504.1 million barrels, a fresh weekly record high. In monthly data, which don’t line up exactly with weekly data, inventories last exceeded 500 million barrels in 1930.

For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my