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Tuesday, 23 August 2016

UPDATE 2-Oil prices fall as analysts say market still oversupplied | Reuters

UPDATE 2-Oil prices fall as analysts say market still oversupplied | Reuters:

"Oil prices fell on Tuesday, with Goldman Sachs warning that August's price rally had been overdone and that a proposed oil production freeze at current near-record levels would not help rein in an oversupplied market.

International Brent crude oil futures were trading at $48.86 per barrel at 0644 GMT, down 30 cents, or 0.61 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude was down 40 cents, or 0.84 percent, at $47.01 per barrel."



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