With signs of crude inventories accumulating in the U.S., the worlds largest consumer of commodity, oil prices dropped for the third straight day.
According to a Bloomburg news survey before an Energy Department report today by the American Petroleum Institute which stated inventories climbed for a fifth straight week. Futures prices dropped 0.8% in New York today.
Delivery fell for June Crude as much as 90 cents to $110.15 a barrel during electronic trading on the New York Mercantile exchange.