U.S. crude supplies have stood at a record high since January, with little hope for a reprieve from the 46% price drop the market suffered in 2014.
Crude supplies remain at a record, but the outlook for the market is starting to improve as the number of U.S. rigs actively drilling for oil continue to fall, supplies at the nation’s storage hub begin to drop and tensions in the Middle East raise concerns over the potential disruptions to global supplies.
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