WTI Consolidates as Transportation Constraints Cap Upside

U.S. crude oil production edged higher during the past week and at 9.62 million barrels a day, it is currently near multi-year highs.  With transportation constraints in U.S. producing areas, prices of WTI are contracting relative to Brent.

The Energy Information Administration reported in its short term energy outlook that U.S. crude oil production has increased, particularly in regions like the…