Posts Tagged
global oil glut
Oil Extends Losses as U.S. Rigs Drilling for Crude Rise 2nd Week
published Jun 12th 2016, 5:52 pm, by Stephen Stapczynski (Bloomberg) — Crude fell a third day after the number of rigs drilling for oil in the U.S. rose for a second week. Futures fell as much as 1 percent in New York after dropping 4.2 percent in the previous two
Oil Trades Near 12-Year Low as U.S. Supplies Seen Expanding Glut
©2016 Bloomberg News O1845T6JTSEC (Bloomberg) — Oil traded near the lowest close in more than 12 years before weekly U.S. government data forecast to show crude stockpiles expanded, exacerbating a global glut. Futures were little changed in New York after dropping 3.3 percent Tuesday to the lowest level since September