(MENAFN- ProactiveInvestors)
West Texas Intermediate oil futures edged lower overnight as ongoing concerns over a global glut of supplies keeping prices for the U.S. benchmark crude under US$60 a barrel.
On Nymex July crude fell 0.8% to US$59.48 a barrel. This erased much of the 1.45 gain last week.
July Brent crude which expires at the end of the session fell 2.2% to US$62.48 a barrel on London’s ICE Futures exchange while the more actively traded August crude was down 0.9% to US$64.07 a barrel.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.