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U.S. oil prices slip, as market struggles to get through $50

Reuters  |  NEW YORK 

By David GaffenNEW YORK (Reuters) - Oil prices fell on Tuesday, pulling back from recent gains as exports from key OPEC producers rose and despite news of lower crude shipments from Saudi Arabia.The crude market has been in consolidation mode after a sharp rally between mid-June and late July that pushed U.S. crude futures above $50 a barrel for the first time in several weeks. Since then, crude has traded around that number as world supply has been slow to draw down."It's just unable to break above $50," said Kyle Cooper, consultant for ION Energy in Houston. "It's boring, but there's a ...

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First Published: Tue, August 08 2017. 21:41 IST
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