Tuesday, August 18, 2015

Oil Market Update : Epic Research Singapore

Oil futures finished below $42 a barrel on Monday to mark their lowest settlement in almost six-and-half years, as traders continued to fret over a global crude glut and analysts predicted declines in demand and prices in the coming weeks.

September West Texas Intermediate crude CLU5, -0.19% fell 63 cents, or 1.5%, to settle at $41.87 a barrel on the New York Mercantile Exchange. That’s the lowest settlement price for a front-month contract since March 3, 2009.

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