Oil prices firm despite weak sentiment on rising US supply
US crude oil output hits a record 12.4-million bpd, which is more than offsetting the supply cuts by Opec and its allies
06 June 2019 - 11:51
London — Oil prices firmed on Thursday after falling to near five-month lows in the previous session, but sentiment stayed weak due to rising US supply and a stalling global economy.
Front-month Brent crude futures were at $61 a barrel at 8.31am GMT, up 37 US cents or 0.6%. US West Texas Intermediate (WTI) crude futures fetched $51.84, up 16c or 0.3%...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.