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Oil prices fall to $ 71
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Oil prices fell during Friday's trading to $ 71 a barrel, with data on US crude oil futures, amid concerns about a slowdown in global growth and coinciding with falling demand for crude.
US crude futures for October delivery fell 0.1% to $ 71.35 a barrel by 0645 GMT. US crude futures for September delivery fell 0.1% to $ 65.38 a barrel.
US oil inventories recorded a surprise jump in the week ending August 10, rising by 6.8 million barrels and expectations were that it would fall by 2.6 million barrels.
Investors are concerned that the increase in inventories is the result of slower global economic growth and hence the decline in demand for crude as a result of the current US-China trade dispute.
Baker Hughes is due to release data on US crude oil inventories later this week. Finished
[You must be registered and logged in to see this link.]
Oil prices fell during Friday's trading to $ 71 a barrel, with data on US crude oil futures, amid concerns about a slowdown in global growth and coinciding with falling demand for crude.
US crude futures for October delivery fell 0.1% to $ 71.35 a barrel by 0645 GMT. US crude futures for September delivery fell 0.1% to $ 65.38 a barrel.
US oil inventories recorded a surprise jump in the week ending August 10, rising by 6.8 million barrels and expectations were that it would fall by 2.6 million barrels.
Investors are concerned that the increase in inventories is the result of slower global economic growth and hence the decline in demand for crude as a result of the current US-China trade dispute.
Baker Hughes is due to release data on US crude oil inventories later this week. Finished
[You must be registered and logged in to see this link.]
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