Crude Oil Tumble to Support Levels on Robust Supply

Crude oil prices resumed their slide on Friday, as news of global supply continued to overwhelmed demand.  Crude stocks in the US are bloated and planned refinery maintenance has reduced throughputs backing up crude oil stocks. In recent weeks, the price of West Texas Intermediate crude oil for near-term delivery declined relative to the price for longer-dated deliveries, deepening the contango in the Nymex WTI…