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Indian-Commodity  :  Commodities  :  Crude Oil  :  Crude oil futures extend losses for fourth straight day

Crude oil futures extend losses for fourth straight day (26-May-2018)

Extending losing streak for the fourth straight day, crude oil futures ended sharply lower to finish at their lowest levels in weeks on Friday, as reports said Organization of the Petroleum Exporting Countries (OPEC) and Russia are considering lifting production by as much as 1 million barrels a day to meet the shortfall in supply from Iran and Venezuela. Data on Friday showing the biggest weekly rise in the number of active U.S. oil rigs, which suggests a possible uptick in production, also contributed in the decline in prices. The number of active U.S. rigs drilling for oil was up 15 at 859 this week. That was the largest weekly rise since the week ended February 9.

Benchmark crude oil futures for July delivery fell $2.83 or 4 percent to settle at $67.88 a barrel on the New York Mercantile Exchange. July Brent crude slipped $2.35 or 3 percent to settle at $76.44 a barrel on London's Intercontinental Exchange.


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International Stock News
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US markets end mostly in red on Friday
(26-May-2018)

US markets end mostly in red on FridayThe US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also......click on news to read complete article.

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US markets end lower on ThursdayThe US markets ended in red terrain on Thursday, as geopolitical worries hovered over markets after Trump called off the summit that was set to take place June 12 in Singapore. The cancellation followed......click on news to read complete article.

 

     
  
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