Oil Prices Stabilize After Sharp Falls
Tuesday,
17-Jul-2018
04:23 PM (IST)
Oil prices were relatively flat, pausing for breath after tumbling to a three-month low, as supply disruptions in Libya began to ease and reports of potential exemptions from U.S. sanctions for buyers of Iranian crude began to emerge.U.S. West Texas Intermediate WTI crude was down 7 cents, or 0.1%, at $67.00 a barrel. It fell 4.2% on Monday.Brent crude futures were down 22 cents, or 0.3%, at $71.62 a barrel. They sank 4.6% in the prior session.The American Petroleum Institute is due to release its weekly report for the week ended July 13 at 4:30PM ET, amid forecasts for an oil-stock drop of around 3.4 million barrels.
|