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Oil down 2 percent, eyes weekly loss, on glut and US rigs rise - Reuters
Reuters | Oil down 2 percent, eyes weekly loss, on glut and US rigs rise Reuters "These large and increasing stocks will not only up the likelihood of additional commercial short hedges, but will also encourage the commercials to defer long hedges," said Jim Ritterbusch of Chicago-based oil markets consultancy Ritterbusch & Associates. Oil prices fall 2%, futures on track for weekly loss as glut fear persists Oil Prices Fall on Glut in Refined Products Oil futures sink, set for 2nd weekly July loss |
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