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Oil drops from five-week high
The Saudi Gazette Published in The Saudi Gazette on 03 - 05 - 2012

Crude oil futures prices dropped 0.9 percent Wednesday as US crude oil inventories rose to their highest levels since September 1990.
Benchmark West Texas Intermediate crude gave up 94 cents to end the day at $105.22 per barrel in New York. Brent crude, which helps set the price of oil imported into the US, lost $1.46 to finish at $118.20 per barrel in London.
Analysts said the market isn't fully reflecting the weak oil supply-demand fundamentals as it awaits further signs on the direction of the US economy.
US crude inventories rose 2.8 million barrels to 375.9 million barrels in storage.

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