US crude extends losing streak despite hopes for Saudi supply cuts | Financial Times:
Hopes Saudi Arabia’s openness to cutting crude production would support prices proved shortlived, with oil hitting a slick on Monday in New York and extending US crude’s record losing streak.
West Texas Intermediate, the US benchmark, was down 0.8 per cent at $59.71 a barrel today in an 11th consecutive day of declines. Before Friday, WTI had never closed lower for more than nine days in a row.
Brent, the international marker, was down 0.8 per cent at $69.65. It was heading for its 10th drop in 11 sessions.
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