You are here: Home » Reuters » News
Business Standard

Oil falls for a third day, knocked by rising U.S. output

Reuters  |  LONDON 

By Amanda CooperLONDON (Reuters) - Oil prices eased for a third day on Tuesday as traders and investors questioned how much the prospect of further rises in U.S. output might overshadow some of the optimism that OPEC-led production cuts would tighten the balance between crude supply and demand.Brent crude futures were last down 34 cents on the day at $62.82 a barrel at 1212 GMT, while U.S. West Texas Intermediate (WTI) futures fell 27 cents to $56.49.Both benchmarks early in the previous week hit highs last seen in 2015, but traders said the market had lost some momentum since then.Traders ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, November 14 2017. 17:58 IST