Increasing U.S. Crude Oil Supply Helps Keep Prices Down

SUGAR LAND--July 23, 2015-Researched by Industrial Info Resources (Sugar Land, Texas)--The price of West Texas Intermediate (WTI) crude oil for September delivery hovered around the $50-per-barrel mark yesterday as data from the U.S. Energy Information Administration (EIA) showed an increase in U.S. crude oil supplies of 2.5 million barrels to 463.9 million barrels for the week ending July 17. On Tuesday, the American Petroleum Institute reported a similar estimated weekly increase of 2.3 million barrels.