Crude oil futures prices hit 8-month low despite resumption of sanctions on Iran
- 6 years ago
Crude oil prices dipped on Wednesday.... despite the U.S. resuming sanctions on Iran.
At the market close on Wednesday,.... the December futures for West Texas Intermediate Crude.... was trading at.... 61-point-67 U.S. dollars per barrel, its lowest price in eight months,.... after falling zero-point-nine percent from the previous day.
January futures for Brent Crude also fell slightly to 72-point-zero-seven dollars per barrel.
The fall is mainly attributed to an increase in U.S. oil production.
The U.S. Energy Information Administration said.... the country's crude inventories soared by 5-point-8 million barrels last week... and overall production reached a new weekly record of 11-point-6 million barrels a day.
At the market close on Wednesday,.... the December futures for West Texas Intermediate Crude.... was trading at.... 61-point-67 U.S. dollars per barrel, its lowest price in eight months,.... after falling zero-point-nine percent from the previous day.
January futures for Brent Crude also fell slightly to 72-point-zero-seven dollars per barrel.
The fall is mainly attributed to an increase in U.S. oil production.
The U.S. Energy Information Administration said.... the country's crude inventories soared by 5-point-8 million barrels last week... and overall production reached a new weekly record of 11-point-6 million barrels a day.