Wednesday, February 17, 2016

Oil Market Update : Epic Research Singapore

Crude-oil prices ended lower Tuesday, as investors decided that talk of an agreement to freeze oil output wasn’t sufficient to alleviate a global supply glut that has dogged the market for months.

On the New York Mercantile Exchange, West Texas Intermediate crude for March delivery CLH6, +1.07%  fell 40 cents, or 1.4%, to settle at $29.04 a barrel, after trading as high as $31.53 a barrel in electronic trading.

April Brent crude LCOJ6, +1.46%  on London’s ICE Futures exchange fell $1.21, or 3.6%, to end at $32.18 a barrel, after hitting a high of $35.55 a barrel earlier.

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