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Oil Pares Losses, But Still Finish at 2-Week Low


Tuesday, 12 February 2019 04:10 WIB

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Crude-oil futures declined Monday, with energy demand concerns, signs of rising U.S. oil production and a stronger dollar pressuring prices, which had also suffered a drop last week.

U.S. benchmark March West Texas Intermediate crude oil fell 31 cents, or 0.6%, to settle at $52.41 a barrel on the New York Mercantile Exchange, the lowest since Jan. 28. It had dropped to as low as $51.23 Monday and tumbled 4.6% last week—the largest loss since the week ended Dec. 21, according to Dow Jones Market Data.

International benchmark April Brent lost 59 cents, or 1%, to $61.51 a barrel on ICE Futures Europe, after declining by 1% last week. Prices based on the front-month contract finished at their lowest since Jan. 29.

Source : Market Watch


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