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Oil prices slide after IEA casts doubt over demand outlook

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices fell by 1 percent on Wednesday, continuing Tuesday's slide after the International Energy Agency cast doubts over the past few months' narrative of tightening fuel markets.Brent crude futures were at $61.61 per barrel at 0745 GMT, down 60 cents, or 1 percent from their last close.U.S. West Texas Intermediate (WTI) crude was at $55.14 per barrel, down 56 cents, or 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 ...

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First Published: Wed, November 15 2017. 13:26 IST