Oil Down to $125

Investors who were initially jittery about the near 9 million barrel drop in the US crude inventory have changed their tune. After oil retreated more than $4 to end a little under $127 yesterday, light sweet crude is trading near $125 in electronic trading today. The unexpected drop in the US inventories was decided to be an aberration. Investors see the data on weakened demand as the more important indicator.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.