Oil futures inched lower on Monday, undercut by continued demand worries, as the Organization of the Petroleum Exporting Countries further reduces its outlook for demand growth, as well as the potential for more oil from Libya. A storm in the Gulf of Mexico, however, threatens to disrupt energy output in …
Read More »Futures Movers: Oil prices fall, with a weekly drop in U.S. crude supplies offset by a post-hurricane recovery in Gulf output
Oil futures declined on Wednesday, failing to find support from a hefty weekly drop in U.S. crude supplies and production as output in the Gulf of Mexico has seen a strong recovery from Hurricane Laura. The supply declines from the Energy Information Administration were “not surprising,” as Hurricane Laura caused …
Read More »