News Journal

Crude drops to a low value

Crude fell to a low value below $40 a barrel as the U.S. government prepared to release the forecast to show U.S. supplies of the third week that was at high value. The crude stock piles have increased to 900,000 barrels in the week as the week ended on dec 19.

As per the energy department reports, previous week crude stock was at 321.3 million. Last week the Organization of Petroleum Exporting Countries announced a cut in production to control lowering prices of crude in market.