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Oil falls as rising U.S. output outweighs strong China data

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices extended falls from the previous two days on Wednesday as soaring U.S. production outweighed strong China data that makes more imports by the world's biggest crude buyer likely.U.S. West Texas Intermediate (WTI) crude futures were at $60.65 a barrel at 0651 GMT, down 6 cents, or 0.1 percent, from their previous close.Brent crude futures were at $64.47 per barrel, down 17 cents, or 0.26 percent.Brent and WTI have shed around 1.5 and 2.4 percent since the start of the week, with prices hit by concerns over a relentless rise in U.S. crude oil ...

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First Published: Wed, March 14 2018. 12:30 IST