U.S. Oil Falls to One-Week Low on Potential Slowdown in Energy Demand
Tuesday, 26 March 2019 03:08 WIB |
ENERGY |Minyak WTIbrent oilOil,Crude Oil
Oil futures settled on a mixed note Monday, with U.S. prices marking their lowest settlement in just over a week on the back of persistent worries about an economic slowdown hurting energy demand.
Global prices, however, found support from ongoing cuts among major crude producers as well as tensions in Venezuela.
West Texas Intermediate crude for May delivery on the New York Mercantile Exchange fell 22 cents, or 0.4%, to settle at $58.82 a barrel, the lowest for the front-month contract since March 15. On Friday, the front-month contract fell 1.6%, but ended 0.4% higher for the week, according to Dow Jones Market Data.
In contrast, May Brent crude tacked on 18 cents, or 0.3%, to end at $67.21 a barrel on ICE Futures Group, after booking a weekly decline of 0.2%. It lost 1.2% in Friday™s session.
Source : Marketwatch