Oil Prices Fall more than 2% and Crude Brent
Reaches 72.39 USD per Barrel
August 01, 2018
Oil prices decreased during trading on
Wednesday, after data showed a surprising surge in the United
States crude inventories, in addition to the production surge of
OPEC oil in the previous month; which raises concerns over
global oversupply.
Brent crude for September delivery fell 2.5%
or US $1.82 to US $72.39 a barrel.
U.S. Nymex crude for September delivery fell
1.6% to $67.66 per barrel, a drop of US $1.10.
US crude oil stockpiles rose by 3.8 million
barrels to 408.7 million barrels in the previous week, as shown
by the data of the Energy Information Administration (EIA).
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