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Oil prices flat after weeks of steep declines

Reuters  |  NEW YORK 

By Scott DiSavinoNEW YORK (Reuters) - Oil prices were flat on Monday after diving 13 percent since late May as rising production in the United States, Libya and Nigeria have foiled an OPEC-led effort to support the market by cutting production. Brent futures for August were down 4 cents, or 0.1 percent, at $47.33 a barrel by 11:39 a.m. EDT (1539 GMT), while U.S. crude for July was down 9 cents, or 0.2 percent, at $44.65 per barrel the day before the July contract expires.The premium of the Brent front-month over the same month for WTI is now at its highest since late May, when producers led ...

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First Published: Mon, June 19 2017. 21:56 IST