Crude oil is trading higher on this last trading day of the week and the month. At a good $61 a barrel, Brent is also higher on the week but WTI is down as it hovers around the $49 level. The price differential between these two oil contracts has therefore grown to $12, the widest since January 2014. The widening of the price gap in part reflects the fact that the US oil output has continued to grow relentlessly despite the much weaker prices recently. This has helped to push crude stockpiles to repeated all-time highs, which more or less confirms that the market is still oversupplied. As the Energy Information ... (full story)