Google+ Followers

Tuesday, 9 May 2017

Oil gives up earlier gains as rising U.S. output, China concerns weigh | Reuters

Oil gives up earlier gains as rising U.S. output, China concerns weigh | Reuters:

"Oil prices gave up earlier gains on Tuesday, as concerns over slowing demand and a relentless rise in U.S. crude output undermined the impact of hopes that OPEC-led production cuts could be extended.

Brent crude futures, the international benchmark for oil prices, were at $49.33 per barrel at 0651 GMT on Tuesday, down from a high of $49.60 earlier in the day and near their last close.

U.S. West Texas Intermediate (WTI) crude oil futures were trading at $46.40 per barrel, down from an intra-day high of $46.66 and also little changed from their last settlement."



'via Blog this'