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Oil extends losses after Saudi Arabia to restore output by end-September


Wednesday, 18 September 2019 08:05 WIB

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Oil prices extended their losses from the previous session on Wednesday, after Saudi Arabia's energy minister said the Kingdom will restore lost oil production by the end of the month.

But investors remained cautious of potential tension in the Middle East after the United States said it believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran. Iran has denied involvement in the strikes.

Brent crude oil futures fell 36 cents, or 0.6%, to $64.19 a barrel by 00:05 GMT, after tumbling 6.5% the previous session.

U.S. West Texas Intermediate (WTI) crude futures fell 43 cents, or 0.7%, to $58.91 a barrel, after sinking by 5.7% on Tuesday.

Source : Reuters              


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