Oil price news: Oil holds near 4-month low on signs of rising U.S. stockpiles

📆 6/5/2024 12:30 PM
📰 BNNBloomberg

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Oil held losses near a four-month low as an industry report pointed to an increase in U.S. crude stockpiles, adding to bearish sentiment compounded by OPEC+’s plan to boost supply.

Oil price news: Oil holds near 4-month low on signs of rising U.S.

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Oil price news: Oil prices slide after OPEC+ plan spurs concern about glutOil futures extended declines Tuesday following OPEC+’s plan to return barrels to the market earlier than expected, raising concerns that the market will be oversupplied.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Oil price news: Oil slumps as OPEC’s surprise plan to raise output adds to gloomOil tumbled after OPEC+ unexpectedly rolled out a plan to restore some production to the market this year, adding to the bearish momentum crude has been experiencing for months.
Source: BNNBloomberg - 🏆 83. / 50 Read more »