Oil prices fell on Tuesday as global oversupply encouraged several banks to cut their forecasts for crude for this year and 2018. Brent crude was down 50 cents at $46.38 a barrel by 1120 GMT. US crude was 50 cents lower at $43.90. "The fundamental mood has taken a turn for the worse," Harry Tchilinguirian, head of oil strategy at French bank BNP Paribas, told Reuters Global Oil Forum. BNP Paribas slashed its forecasts for Brent by $9 to $51 a barrel for 2017 and by $15 to $48 for 2018. Barclays also cut it's 2017 and 2018 Brent forecasts to $52 a barrel for both ...
Oil slips as banks cut price forecast till 2018
Brent crude was down 50 cents at $46.38 a barrel and US crude was 50 cents lower at $43.90