WTI Drops as U.S. Crude Inventory Hits All-Time High

by Tim Bonett, KPI Bridge Oil
Wednesday April 23, 2014

Crude stockpiles exceeded expectations today sending WTI south and at one point the WTI/Brent spread to its widest gap in a month.

The current U.S. crude inventory level is at its highest since the weekly EIA recording data began in 1982 and also dating back to 1920 when the government kept monthly reports.

Despite these overwhelming statistics, losses were stymied by the continuing developments out of Ukraine and Russia.

The situation may be worsening as the two sides continue to spar with words over protecting interests.