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Oil prices dip after IEA raises doubt over demand outlook for 2018

Crude oil prices fell sharply after the IEA raised doubts about the outlook for 2018," ANZ bank said

Reuters  |  SINGAPORE 

Oil prices tumbled on Wednesday, continuing Tuesday's slide after the International Energy Agency cast doubts over the past months' narrative of tightening fuel markets. Brent crude futures were at $61.47 per barrel at 0106 GMT, down 74 cents, or 1.2 percent from their last close. US West Texas Intermediate (WTI) crude was at $55.10 per barrel, down 60 cents, or over 1 percent. The price falls mean that crude prices are now down by around 5 percent since hitting 2015 highs last week, ending a 40-percent rally between June and early November. "Crude oil ...

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First Published: Wed, November 15 2017. 09:56 IST