Oil Extends Losses as US Slowdown Overshadows Stockpile Draw – thqaftqlm

Oil Extends Losses as US Slowdown Overshadows Stockpile Draw

Oil prolonged losses after the largest decline in a month as a stalling US economic system overshadowed a giant attract crude stockpiles.

West Texas Intermediate dropped beneath $79 a barrel after closing 2.1% decrease on Wednesday. The US economic system stalled in current weeks, the Federal Reserve mentioned in its Beige Ebook survey, portray a dour outlook for demand. The greenback has additionally strengthened, offering one other headwind for commodities.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top