Oil Market Update : Epic Research Singapore

Oil futures fell for a second straight session Thursday, with the U.S. benchmark settling at its lowest level in a week as traders braced for developments from a key meeting of the Organization of the Petroleum Exporting Countries.

On the New York Mercantile Exchange, West Texas Intermediate July crude CLN5, +1.52%  shed $1.64, or 2.75%, to $58 a barrel. Brent crude for July delivery LCON5, +1.89% lost $1.77, or 2.8%, to $62.03 a barrel on London’s ICE Futures exchange.

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