You are here: Home » Reuters » News
Business Standard

Oil prices flat as oversupply concerns linger

Reuters  |  SEOUL 

SEOUL (Reuters) - Oil prices were little changed in early Asian trading on Friday after retreating in the previous session, weighed by ongoing global glut concerns despite a bigger-than-expected draw in U.S. crude inventories.Brent crude, the global benchmark, was up 1 cent at $51.91 per barrel by 0044 GMT. U.S. West Texas Intermediate (WTI) crude was up 3 cents, or 0.1 percent, at $48.62 a barrel.Oil prices touched a two-and-half month high on Thursday, but retreated to close down around 1.5 percent, with U.S. prices slipping back below $50 per barrel amid ongoing oversupply ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, August 11 2017. 06:31 IST
RECOMMENDED FOR YOU