Oil prices inched lower on Wednesday on signs that global markets remain adequat...
SINGAPORE - Oil prices inched lower on Wednesday on signs that global markets remain adequately supplied despite a jump to 2019 highs this week on Washington’s push for tighter sanctions against Iran.
U.S. West Texas Intermediate crude futures were at $66.02 per barrel, down 28 cents, or 0.4 percent, from their previous settlement. With Iranian oil exports likely declining sharply from May as most countries bow to U.S. pressure, global crude markets are expected to tighten in the short-run, Goldman Sachs and Barclays bank said this week.
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