Crude price surges past $95
Crude oil futures closed at a new record high Wednesday, driven by U.S. crude inventories dropping to the lowest level in two years and a falling dollar following the Federal Reserve’s rate cut.
December West Texas Intermediate (WTI), the benchmark US crude, closed at a record $ $94.53 a barrel on the New York Mercantile Exchange (Nymex), surging to $95.28/bbl in after hours trading. London Brent gained $3.19 to $90.63/bbl.
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell by 3.9 million barrels to 312.7 million barrels in the week ending Oct
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