Oil Market Update : Epic Research Singapore

Oil futures settled with a narrow loss on Wednesday as the U.S. dollar gained after minutes from the Federal Reserve’s latest meeting suggested the central bank might still raise interest rates in June.

Oil prices had spent much of the session trading higher as bigger-than-expected weekly declines in U.S. gasoline and distillate supplies offset pressure from a surprise rise in crude stockpiles.

June West Texas Intermediate crude CLM6, -1.37% fell 12 cents, or 0.3%, to settle at $48.19 a barrel on the New York Mercantile Exchange. Prices had climbed to highs near $49 and also dipped to lows under $48. It was trading up around $48.77 when minutes from the Fed meeting were released.

July Brent crude LCON6, -1.57% fell 35 cents, or 0.7%, to end at $48.93 a barrel on London’s ICE Futures exchange

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg