By February 14, 2018 0 Comments Read More →

Rising U.S. supply knocks oil prices for a third day

Oil fell for a third day on Wednesday, under pressure from concern about rising U.S. production and how much it would hurt efforts by OPEC and its partners to control global supplies.

Brent crude futures LCOc1 fell 26 cents to $62.46 a barrel by 1028 GMT. The price has lost 11 percent since hitting a high above $71 in January. It has now wiped out all the 2018 gains.

U.S. West Texas Intermediate crude futures CLc1 fell 40 cents to $58.79 a barrel…

 

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