Oil prices weighed down by record U.S. output, inventories
Thursday, 2 May 2019 18:19 WIB | ENERGY |Minyak WTI BerjangkaMinyak Brent

Oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in inventories.

Brent crude oil futures were at $71.47 per barrel at 1037 GMT, 71 cents below their last close. Brent is set for a weekly loss, which would break its longest string of weekly gains for a year.

U.S. West Texas Intermediate crude futures were down 76 cents at $62.84 per barrel.

U.S. crude stockpiles last week rose to their highest since September 2017, jumping by 9.9 million barrels to 470.6 million barrels as production hit a record high of 12.3 million barrels per day (bpd), government data showed.

Source: Investing.com

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