International crude oil prices plunge amid oversupply concerns
Автор: Arirang News
Загружено: 2016-08-02
Просмотров: 146
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국제유가, 공급과잉 우려에 하락…WTI, 4개월만에 40달러 붕괴
International oil prices fell more than one percent on Tuesday, erasing early gains.
The retreat came as persistent worries of a supply glut... offset the impact of a weak dollar that initially propped up the market.
On the New York Mercantile Exchange, West Texas Intermediate for September delivery closed trading at 39 dollars 51 cents a barrel, down one-point-four percent.
It's the first time in four months that W-T-I has slipped below the 40 dollar level.
Initially oil prices rose sharply backed by the dollar hitting a six-week low.
But worries over an oversupply took over,... bringing prices back down.
Just a day before, media reported that OPEC output last month was at an all-time high.
Iraq, Nigeria and Saudi Arabia were seen to have increased production.
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