Thursday, 29 March 2018

Oil stumbles as U.S. supply growth offsets OPEC optimism | ZAWYA MENA Edition

Oil stumbles as U.S. supply growth offsets OPEC optimism | ZAWYA MENA Edition:

"Oil prices slipped on Thursday as another rise in U.S. inventories and production outweighed the prospect of OPEC sticking to its output curbs for the rest of the year.

Brent crude, the international benchmark, touched $71 a barrel on Tuesday, near its high for the year, but has dipped since then.

June Brent crude futures were down 35 cents at $68.41 by 1310 GMT, while the May contract expiring on Thursday was down 25 cents at $69.28."



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