Oil prices fall on US stocks increase, just as demand wanes
US crude inventories rose by 10.5-million barrels in the week to October 11, which may be the biggest US inventory increase since February 2017
17 October 2019 - 12:50
Singapore/London — Oil prices fell on Thursday after industry data showed a larger-than-expected build-up in the US inventories, but losses were limited after China said it hoped to reach a phased trade agreement with the US as early as possible.
Global benchmark Brent crude oil was down by 39c at $59.03 a barrel by 8.37 GMT. US West Texas Intermediate (WTI) crude oil was down 43c at $52.93...
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.