Oil prices extend losses on supply, trade war fears
Wednesday, 20 November 2019 14:27 WIB | ENERGY |Minyak BrentMinyak MentahMinyak WTI

Oil prices slipped for a third day on Wednesday as a surge in U.S. stockpiles reinforced concerns about lackluster global economic growth, while hopes ebbed for any movement on the U.S.-China trade war.

West Texas Intermediate (WTI) crude futures erased early gains to be down 6 cents, or 0.1%, at $55.15 a barrel by 06:31 GMT, after falling more than 4% over the previous two sessions.

Brent crude futures were at $60.71 a barrel, down 20 cents, or 0.3%. Brent dropped 3.8% during the prior two sessions.

Crude inventories in the United States, the world's biggest oil user, rose 6 million barrels in the week to Nov. 15 to 445.9 million, data from industry group the American Petroleum Institute showed late on Tuesday.

Source : Reuters

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