Oil futures ended lower Thursday, failing to extend gains to a third straight day as bullish momentum in the wake of an unexpected decline in U.S. crude inventories faded and investors shunned assets perceived as risky on concerns about the global economic outlook.Brent crude LCOM6, +1.27% the global oil benchmark, fell 41 cents, or 1%, to settle at $39.43 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures CLK6, +1.80% fell 49 cents, or 1.3%, to $37.26 a barrel.
Oil lost ground amid concerns about world growth, analysts said. Those concerns helped sink equities and contributed to weakness in the dollar, while assets perceived as havens, such as gold and Treasurys, rallied.
Both benchmarks rallied more than 5% on Wednesday after U.S. supply data showed a surprise drop in U.S. crude inventories of 4.9 million barrels last week.
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
0 comments:
Post a Comment