Oil Market Update : Epic Research Singapore

Oil futures fell Thursday for the first time in four sessions, with West Texas Intermediate crude failing to settle above $35 a barrel, a key level.

Traders weighed the possibility that major producers may come to an agreement this month to stabilize crude output levels. They also took cues from mostly downbeat U.S. economic data and a weekly U.S. government report out Wednesday that showed both a larger-than-expected rise in crude supplies and a decline in total domestic production.

On London’s ICE Futures exchange, Brent crude LCOK6, +0.57% added 14 cents, or 0.4%, to close at $37.07 a barrel.

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