Oil prices fall on economic slowdown and rising US output
Opec’s supply cut remains in place, though Russia’s Rosneft is getting antsy; the US is now the biggest oil producer at 12.3-million bpd
04 June 2019 - 14:13
Singapore/London — Oil prices fell on Tuesday to their lowest since January on signs that an economic slowdown is starting to dent energy demand and as Russia’s top oil producer said it opposed extending joint cuts with oil cartel Opec until the end of the year.
Front-month Brent crude futures were at $60.78 at 10.30am GMT, 50c, or 0.85%, below the last session’s close. Brent fell as low as $60.2 a barrel earlier, the lowest level since January 2019. US West Texas Intermediate (WTI) crude futures were at $52.80 a barrel, down 45c, or 0.85%, from their last settlement...
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