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Oil dipped on Wednesday, weighed down by ongoing high supplies despite an Opec-led production cut, but prices remained within a narrow trading band that has been in place since late January. Brent crude futures, the international benchmark for oil prices, were trading at $55.44 per barrel early on Wednesday, down 14 cents from their last close.
US West Texas Intermediate crude futures were at $52.74 a barrel, down 7 cents. Traders said a reported rise in US crude inventories was putting pressure on prices. "The release of the American Petroleum Institute's crude inventories at a much higher than expected 5.8 million barrels saw both Brent and WTI quickly give back... gains," said Jeffrey Halley, senior market analyst future brokerage OANDA in Singapore...Siga leyendo>
Oil dipped on Wednesday, weighed down by ongoing high supplies despite an Opec-led production cut, but prices remained within a narrow trading band that has been in place since late January. Brent crude futures, the international benchmark for oil prices, were trading at $55.44 per barrel early on Wednesday, down 14 cents from their last close.
US West Texas Intermediate crude futures were at $52.74 a barrel, down 7 cents. Traders said a reported rise in US crude inventories was putting pressure on prices. "The release of the American Petroleum Institute's crude inventories at a much higher than expected 5.8 million barrels saw both Brent and WTI quickly give back... gains," said Jeffrey Halley, senior market analyst future brokerage OANDA in Singapore...Siga leyendo>