Front-month WTI settled at an 18-year low Wednesday after US Energy Information Administration data showed US crude stocks posted their largest-ever weekly build last week. NYMEX May WTI settled down 24 cents at $19.87/b and ICE June Brent finished $1.91 lower at $27.69/b. Front-month WTI last settled lower in February 2002. US commercial crude inventories surged 19.25 million barrels to 503.62 million barrels during the week ended April 10, EIA data showed. The build was the largest ever on record, eclipsing the previous record-build of 15.18 million barrels realized the week prior. Nationwide crude inventories now stand at 6.2% above the five-year average, EIA said. Podcast: Oversupply, coronavirus […]