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WTI US crude oil sees Tuesday whip, hits $90 again
West Texas Intermediary (WTI) US crude oil prices have reclaimed the $90/bbl handle in Tuesday's trading window after hitting a two-week low early in the day of $87.74. US crude reserves are rapidly dwindling in the face of a global supply deficit of nearly 2 million bpd. The major crude reservoir at Cushing, Oklahoma has reached 14-year lows, and declining reserve supplies will provide further upside price pressures for WTI. Cushing reserves have reversed rapidly; the facility hit a two-year reserve high in June of 43 million barrels and is now sitting just below 23 million barrels, its lowest stock supply since ... (full story)