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Oil Dips as U.S. Output Hits Record, But Global Markets Remain Tight


Thursday, 2 May 2019 08:16 WIB

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Oil prices dipped on Thursday after data showed record U.S. crude oil production, which resulted in a surge in stockpiles.

Outside the United States, however, oil markets remained tense as all exemptions to U.S. sanctions on Iran expire, the political crisis in Venezuela escalates, and as producer club OPEC keeps withholding supply.

Spot Brent crude futures, the international benchmark for oil prices, were at $72.09 per barrel at 00:32 GMT, down 9 cents, or 0.1 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were down 2 cents, at $63.58 per barrel, having eased 0.5 percent in the previous session.

Source : Reuters


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