Oil prices stay under pressure as market waits for OPEC meeting

Oil prices slid further in early Asian trade Tuesday, on mounting skepticism that key global crude producers would reach an agreement to freeze production at a meeting later this month.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in May CLK6, -0.62%  traded at $35.52 a barrel, down $0.18. June Brent crude LCOM7, -0.47%  on London’s ICE Futures exchange fell $0.15 to $37.54 a barrel.

Oil prices rallied last month on expectations that major oil players inside and outside of the Organization of the Petroleum Exporting Countries were inching toward a collective production freeze at January levels. However, the gains evaporated in the past few days after Saudi Arabia said Friday it would only freeze production if Iran follows suit.

For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my