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Wednesday, 5 July 2017

Brent oil remains below $50 as OPEC supplies rise again | Reuters

Brent oil remains below $50 as OPEC supplies rise again | Reuters:

"Brent crude oil remained below $50 per barrel on Wednesday, weighed down by another rise in OPEC supplies despite a pledge to cut production, but geopolitical tensions in the Korean peninsula and the Middle East put a floor under prices.

Brent crude futures, the international benchmark for oil prices, were at $49.60 per barrel at 0651 GMT, little changed from their last close.

U.S. West Texas Intermediate (WTI) crude futures were down 6 cents at $47.02 per barrel."



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