Thursday, October 8, 2015

Oil Market Update : Epic Research Singapore

Oil futures logged their first loss in four sessions on Wednesday after a U.S. government report revealed an increase in weekly crude inventories along with a climb in domestic production.

On the New York Mercantile Exchange, November West Texas Intermediate crude CLX5, +0.96%  lost 72 cents, or 1.5%, to settle at $47.81 a barrel, after spending the session switching between gains and losses. Prices had tallied a more than 8% in the last three sessions.

November Brent crude LCOX5, +0.99%  on London’s ICE Futures exchange fell 59 cents, or 1.1%, to $51.33 a barrel.

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