Crude on 3-month low

High stockpiles of crude oil in the US sent prices for crude to a three-month low this week.

At mid-day on Friday at the New York Mercantile Exchange, West Texas Intermediate June delivery was priced at $48.05 per barrel.

That was down $2.91 for the week and 17 percent lower than the high of $58.28 that was reached in April.

In London, meanwhile, IPE Brent for June fell $2.52 on the week to $48.25 per barrel. Besides high stockpiles, a strong dollar also helped to push crude prices down.