Haberler    English    العربية    Pусский    Kurdî    Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 25/06/2019 13:49 
27.05.2019 10:20 News >> Oil Prices Down Following Largest Weekly Drop Of 2019

Oil Prices Down Following Largest Weekly Drop Of 2019

Brent crude lost more than 5% last week, while WTI plummeted by around 7%

Crude oil prices were down at trading start on Monday having posted the largest percentage drop of 2019 last week when Sino-U.S. trade tensions hampered global economic growth and demand for oil.

International benchmark Brent crude was trading at $67.30 per barrel at 0600 GMT for a 2.02% loss after it closed Friday at $68.69 a barrel.

American benchmark West Texas Intermediate (WTI) was at $58.28 a barrel at the same time, posting a 0.6% decline, after ending the previous week at $58.63 per barrel.

Brent crude lost more than 5% last week, and WTI plummeted by around 7%, as both benchmarks marked their highest percentage decline so far this year.

Oil prices are under pressure as the U.S. and China, the world's two biggest economies, were unable to find a solution to their trade impasse that weakens the global economic outlook and overall oil demand worldwide.

On the supply side, however, OPEC and Russia continue to limit their production in order to support prices.

OPEC and non-OPEC oil producing nations agreed on Dec. 7 to cut their total output by 1.2 million barrels per day for the first six months of 2019 in order to trim market oversupply. They could extend the agreement into the second half of the year to raise oil prices. -



        Latest News
Basketball: Turkey Women's Team Aim 2020 Tokyo Olympics 32 minutes ago...
Top six teams in FIBA Women's EuroBasket 2019 to qualify for 2020 Summer Olympics in Tokyo.
Rehab Center İn Turkey Treats Addicts Without Medicine 32 minutes ago...
Set up in scenic Vaz Mountains in Balikesir, rehab centre detoxifies using sports, exercises and sauna.
Money Alone Won't Solve Palestinian Cause: Un Envoy 32 minutes ago...
US officials will unveil economic portion of "deal of the century" plan during Bahrain conference.
Uk: F-35B Fighter Jets Complete First Missions 32 minutes ago...
Jets fly over Syria and Iraq as part of fight against Daesh, says Ministry of Defense.
Update 2 - Russian S-400 Order Arriving İn July: Turkish President 32 minutes ago...
Recep Tayyip Erdogan says Turkey will not take step back from its order of Russian S 400 air defense system.

 
      Top News
Drought Or Bumper Crop, Woes Stay For Afghan Farmers Drought Or Bumper Crop, Woes Stay For Afghan Farmers
Muslim Man İn India Lynched By Mob Muslim Man İn India Lynched By Mob
US Calls On Houthis To End Attacks On Saudi Arabia US Calls On Houthis To End Attacks On Saudi Arabia
Arms Sold From UK To Israel During Gaza Protests: Group Arms Sold From UK To Israel During Gaza Protests: Group
Two Eurofighter Jets Crash İn Germany Two Eurofighter Jets Crash İn Germany
Iran Says Ready To Shoot Down Any US Spy Drone Iran Says Ready To Shoot Down Any US Spy Drone
Russian S-400 Better Than American Patriot System' Russian S-400 Better Than American Patriot System'
4 Killed, Over 100 İnjured İn Bangladesh Train Accident 4 Killed, Over 100 İnjured İn Bangladesh Train Accident
Turkey's Main Opposition Vows To Strengthen Country Turkey's Main Opposition Vows To Strengthen Country
Imamoglu Wins Istanbul's Mayoral Poll: Unofficial Results Imamoglu Wins Istanbul's Mayoral Poll: Unofficial Results