Crude oil prices were pummeled in the early Wednesday session on dueling reports showing growing evolution in the U.S. oil market. West Texas Intermediate, the U.S. price index, fell nearly 2.8 percent below the close from the previous session to trade at $52.61 per barrel for the February contract. Brent, the global benchmark, was off nearly 3 percent from the previous day to trade at $57.90 per barrel. Crude oil prices this week saw a brief rally early Monday on word oil storage tanks in Libya were burning out of control following rebel action. Once a major market swinger, the glut of oil from the United States may be driving market mechanisms more than Libyan shortages. The American Petroleum Institute this week said total U.S. oil […]