Rising US oil stockpiles push market lower

Friday, 13 March 2015 - 12:39

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Crude oil prices slid yesterday as traders focused on rising US stockpiles amid a global supply glut.

US benchmark West Texas Intermediate for April delivery sank 1.12 dollars to close at 47.05 dollars a barrel on the New York Mercantile Exchange.

In London, Brent North Sea crude for April, the global benchmark, settled at 57.08 dollars a barrel, slipping 46 cents from Wednesday's closing level.