Thursday, 18 August 2016

Gains for oil prices fade on persistence worries over global supply glut

Crude prices petered out in early Asian trade Thursday as growing global inventories trumped any bullishness associated with the latest bigger-than-expected reduction in U.S. crude stockpiles.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in September CLU6, +0.26%   traded at $46.80 a barrel, down $0.01 in the Globex electronic session. October Brent crude LCOV6, -0.08%  on London’s ICE Futures exchange fell $0.16 to $49.69 a barrel.




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