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Brent crude is near its lowest level since mid-December 2017

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rocky
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Brent crude is near its lowest level since mid-December 2017

Post by rocky on Wed 14 Feb 2018, 3:37 am


Brent crude is near its lowest level since mid-December 2017

09:17 - 14/02/2018
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LONDON (Reuters) - Brent crude fell in late trading on Tuesday evening, its lowest level since mid-December.
Oil prices fell in today's trading, after the International Energy Agency (IEA) forecast for an increase in global crude supplies this year.
By 15:52 GMT, the benchmark Brent crude for April delivery fell 0.85 percent to $ 62.03 a barrel.
US crude futures for March delivery fell 0.86 percent, or 51 cents, to $ 58.78 a barrel.
The International Energy Agency (IEA) raised expectations for crude oil demand for the current year to 1.4 million barrels per day (bpd), compared with 1.3 million bpd in previous estimates.
The Organization of the Petroleum Exporting Countries (OPEC) said on Monday it expects global oil demand to rise 1.59 million barrels per day this year, an increase of 60 thousand barrels per day than previously expected, to 98.6 million barrels per day.




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