WTI oil drops for second day after supplies advance in U.S.

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Source: Bloomberg
West Texas Intermediate crude plummeted for a second day as an industry group indicated the U.S. stockpiles increased for the first time in three weeks and OPEC's production rose to highest in five months. WTI for June settlement slid to $92.90 a barrel, down 56 cents, and contracts lost $1.04 to $93.46, while Brent for June delivery dropped 89 cents to $101.48 a barrel, and the front-month European benchmark stood at a premium of $8.43 to WTI.
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