Oversupply sees crude prices fall

EIA data released yesterday revealed a larger than expected crude stock build of 7mio barrels, as opposed to a consensus forecast of around 2.5mio barrels.

This prompted fears of oversupply which precipitated a fall in crude prices. Brent crude closed around $87.80 (€60) with the NYMEX contract dipping to $86.88 (€59.40) - the lowest levels seen for over three months.