Oil prices slipped on Monday, despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing US oil output and high inventories. Brent crude futures settled at $51.62 a barrel, down 14 cents. US West Texas Intermediate crude futures settled down 56 cents, or 1.2 percent, to $48.22 a barrel. Prices briefly surged into positive territory after sources within the group said the OPEC was considering extending production cuts into the second half of 2017. (reuters)
Business
Oil drops on growing US supply concerns
webmaster
Mar 21, 2017
Oil prices slipped on Monday, despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing US oil output and high inventories. Brent crude futures settled at $51.62 a barrel, down 14 cents. US West Texas Intermediate crude futures settled down 56 cents, or 1.2 percent, to $48.22 a barrel. Prices briefly surged into positive territory after sources within the group said the OPEC was considering extending production cuts into the second half of 2017. (reuters)
share