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Oil slides, hits six-month low on rising global production

Reuters  |  NEW YORK 

By Julia SimonNEW YORK (Reuters) - Oil prices settled lower for a second straight day on Thursday, as the market was unable to rebound from Wednesday's decline on the back of a surprise build in U.S. gasoline inventories and ongoing worries about heavy global supply.The dollar rose to its highest in more than two weeks, further weighing on oil by making it more expensive for buyers using other currencies. [USD/]Still, Brent crude fell to a session low of $46.70 a barrel, its weakest since May 5 and near six-month lows. It settled down 8 cents at $46.92 a barrel.U.S. crude settled down 27 ...

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First Published: Fri, June 16 2017. 02:50 IST