Oil Prices Drop by About 2.5% amid Concerns
of Oversupply
November 29, 2018
Oil prices fell by around 2.5% on Wednesday
after US crude inventories rose for the 10th week in a row and
hit their highest level in a year, furthering concerns about a
global oversupply.
US crude fell by US $1.27, or 2.5% to US
$50.29 a barrel, its lowest since October 9, 2017.
Brent crude dropped by US $1.45, or 2.4% to
settle at US $58.76 a barrel.
|