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Oil extends last week's sharp retreat as demand worries sour sentiment


Tuesday, 18 June 2019 02:23 WIB

Minyak WTI


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Crude oil futures prices fell Monday, with investors digesting worrisome demand updates issued last week and keeping tabs on typically price-supportive risks percolating in the Middle East.

On Monday, West Texas Intermediate crude for July delivery fell 58 cents, or 1.1%, to settle at $51.93 a barrel on the New York Mercantile Exchange, following two consecutive session gains.

Meanwhile, August Brent crude dropped $1.07, or 1.7%, to $60.94 a barrel on ICE Futures Europe in Monday action. Brent finished down 2% for last week.

In other energy trading, July gasoline fell 2.4% to $1.691 a gallon, with prices down 0.4% for last week. July heating oil declined by 1.6% to $1.800 a gallon, after a weekly rise of 0.3%.

July natural gas ended little changed, down 0.04% to $2.386 per million British thermal units, after a weekly gain of 2.1%.

Source: Marketwatch


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