Oil Market Update : Epic Research Singapore

Oil futures barely managed to put an end to a five session losing streak on Wednesday, as traders weighed support from a fall in weekly U.S. crude production against pressure from a rise in stockpiles.

Crude supplies marked a seventh weekly climb, but the increase came in below some market expectations.
West Texas Intermediate crude for May delivery CLK6, -1.33%  tacked on 4 cents, or 0.1%, to settle at $38.32 a barrel on the New York Mercantile Exchange after settling at a two-week low on Tuesday. Prices lost nearly 8% over the previous five trading sessions. May Brent crude LCOK6, -1.02%  rose 12 cents, or 0.3%, to $39.26 a barrel on London’s ICE Futures exchange.

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