(MENAFN- ProactiveInvestors)
West Texas Intermediate crude oil failed to hold on to initial gains in trading overnight losing ground for a fifth straight session as traders awaited the latest round of supply data.
On the New York Mercantile Exchange West Texas Intermediate crude futures for delivery in April lost 0.3% to close at US$49.28 a barrel. WTI’s losing streak is the longest since August.
Brent crude for April delivery on London’s ICE exchange also failed to hold on to initial gains dropping 0.4% to close at US$58.66 a barrel.
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