NEW YORK: US crude oil futures fell yesterday and were on track for a fifth straight week of declines, while Brent remained under pressure on a strong dollar and plentiful supplies.
US crude for October was down 87 cents at US$93.11 a barrel by 1513GMT. If futures close lower this week, it will be the longest streak of weekly drops since November 2013. Brent dipped 32 cents to US$102.31 a barrel.
"I think the market is still reflecting on the big build in Cushing this week," said Dominick Chirichella, senior partner at Energy Management Institute. "I think we're (also) expecting another build this week." Reuters
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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2014-09-26 00:26