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Oil prices slip on global growth concerns, swelling U.S. supply

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices fell on Wednesday, pulled down by swelling U.S. inventories and a plunge in global stock markets as China's government warned of increasing economic headwinds.International Brent crude oil futures were at $60.87 per barrel at 0508 GMT, down $1.21, or 2 percent, from their last close.U.S. West Texas Intermediate (WTI) crude futures were at $52.33 per barrel, down 92 cents, or 1.7 percent.Reuters technical commodity analyst Wang Tao said WTI could soon test support at $51.75 per barrel, while Brent was threatening to drop below $60 per barrel ...

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First Published: Wed, December 05 2018. 10:50 IST
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