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West Texas crude -1.4% to $96.56/bbl after Saudi Arabia's oil minister says crude prices are...

West Texas crude -1.4% to $96.56/bbl after Saudi Arabia's oil minister says crude prices are still too high. Saudi is storing as much as 80M barrels and has 2.5M bpd of spare capacity, Ali al-Naimi says; the kingdom is pumping 10M bpd, near the fastest rate in at least 31 years. Energy stocks (XLE -1.3%), a drag in recent sessions, are down again.
Comments (1)
  • bot some xle at 66.69, bot some iez at 49.24
    8 May 2012, 11:38 AM Reply Like
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