Oil trades below $50 amid US crude supplies

Source: Bloomberg
© Scanpix/FP
Crude traded below $48 a barrel for a third day in London as investors are waiting the ECB's decision to start a QE programme. Another depressing factor is an expectation the crude oil inventories will continue to expand. Brent dropped 1.1% and futures for March delivery was at $48.93 a barrel at 9:45 a.m. in London. Meanwhile, WTI for March settlement fell 1.4%, or 68 cents, to $47.10 a barrel during the New York electronic trading.
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