Today saw crude oil prices fall about 3%. Oil was already under pressure on fears about demand following the weaker Chinese industrial data that was released on Tuesday and the larger crude build in the US as was reported by API last night. But prices fell further after official data from the EIA showed a build of 2.7 million barrels, its fourth weekly build. The fact that these macro factors pushed crude oil below key short-term support at around the $84.00 - $84.50 area, this gave rise to further technical selling. Still, with the Middle East situation at the forefront of investors’ minds, the downside could be ... (full story)