Oil prices fall below $47 a barrel to a five-month low [CNBC]
Churchill Capital Corp V Class A (CCV)
US:NYSE Investor Relations:
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Source: CNBC
Oil prices fell below $47 a barrel on Thursday, hitting their lowest level this year after data showed a smaller-than-expected decline in U.S. inventories. U.S. data showed crude inventories fell 930,000 barrels in the week to April 28, against analysts' expectations for a decrease of 2.3 million barrels. Stocks have steadily declined for the last four weeks, but at 527.8 million barrels they are just 7 million barrels off a record high. U.S. West Texas Intermediate (WTI) crude futures were down 97 cents, or 2 percent, at $46.85 a barrel, dropping below the previous 2017 low to the weakest level since Nov. 30. Brent crude oil futures were down 95 cents, or 1.9 percent, at $49.84 a barrel by 8:18 a.m. (1218 GMT), also striking a new low going back to Nov. 30. Essam Al-Sudani | Reuters A laborer works at the Nahr Bin Umar oil field, southeast of Baghdad, Iraq. U.S. gasoline futures were down nearly 2.1 percent after the stockpile
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