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Oil down 2 percent, breaks five-week rally as oversupply fears resurface - Reuters
Reuters | Oil down 2 percent, breaks five-week rally as oversupply fears resurface Reuters NEW YORK (Reuters) - Oil futures fell more than 2 percent on Friday, ending Brent crude's longest multi-week rally in 16 months as oversupply concerns reappeared as producers have started hedging future drilling. Brent futures LCOc1 settled down 2.4 ... Oil down 2%, breaks 5-week rally as oversupply fears resurface Oil gets a lift from talk of an output-cut extension, storm supply risks US oil exports will keep booming after hitting record, analysts say |
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