OIL PRICES

 

Crude Oil Prices Slide With Supply Surplus And Poor Economic News

Crude oil prices hit their lowest point in 18 months on 21 June with WTI settling at $78.20/B and Brent dropping to $89.23/B. Poor economic prospects based on a strengthening dollar and weak economic indicators for the US, Europe and China led some traders to comment that a further drop in prices can be expected. Rising crude inventories in the US and a steady surplus in supply from...