Oil falls for second day as US stockpiles rise again
Opec+ has been withholding supply to reduce stockpiles, but analysts say it is more likely to focus on compliance, rather than deeper cuts
11 September 2020 - 12:51
London — Oil prices fell for a second day and were on track for a second weekly fall after US stock markets tumbled and US stockpiles rose unexpectedly.
Brent was down 12c, or 0.3%, at $39.94 a barrel by 8.41am GMT, after falling nearly 2% on Thursday, while US crude dropped 3c, or 0.1%, to $37.27 a barrel, having fallen 2% in the previous session...
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.