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Oil scores new 2015 peaks on tumbling inventories in US

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Published Sun, May 10, 2015 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    London

    OIL faced a rollercoaster week, striking five-month peaks on news of an unexpected slump in US crude reserves, before sliding as oversupply worries resurfaced.

    "After a strong start to the week, with Brent seemingly heading for US$70 per barrel, the recovery in oil prices ran out of steam by Friday," said Capital Economics analyst Julian Jessop.

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