Equity Tips:- Oil Prices Fall On Rising U.S. Crude Inventories, Record Production

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Oil prices fell early on Thursday, pulled down by a rise in U.S. crude inventories and record weekly U.S. production, which is countering efforts by producer cartel OPEC to cut supplies and prop up prices. 

 

U.S. West Texas Intermediate (WTI) crude futures were down 28 cents, or 0.4 percent, at $67.65 per barrel at 0004 GMT.

 

Brent crude oil futures were at $73.04 per barrel, down 32 cents, or 0.4 percent, from their last close.

 

Prices were pulled down by a report from the U.S. Energy Information Administration (EIA) on Wednesday showing U.S. crude inventories jumped by 6.2 million barrels to 435.96 million barrels in the week to April 27, marking a 2018 high.

 

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Comments

  1. Rudra Investment4 May 2018 at 14:56

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