17 mai 2018

Crude oil price spike eases on supply concerns

neweurope.eu

+ Despite concerns that US sanctions are likely to restrict crude exports from major oil producer Iran, oil prices fell on May 16 ahead of an expected rise in the US’ crude inventory that could provide more evidence that demand may be slowing. According to Reuters, Brent crude futures were last down 65 cents at $77.78 a barrel by 11:47 GMT, while US crude futures fell 32 cents to $70.99 a barrel, leaving the spread between the two just shy of a 2015 high of $7 a barrel. OPEC said on May 16 that [...]