High inventories help push crude oil prices to lowest levels in 13 years

Several factors have played a part in pushing U.S. crude oil prices below $30 per barrel, including high inventory levels of crude oil, uncertainty about global economic growth, volatility in equity and nonenergy commodity markets, and the potential for additional crude oil supply to enter the market. Crude oil and petroleum product inventories, both domestically and internationally, have been growing since mid-2014 and are above five-year averages for this date. More »