Recovered oil futures prices from their lowest levels in more than two months during
Recovered oil futures prices from their lowest levels in more than two months during Asian trading
Recovered oil futures prices from their lowest levels in more than two months during Asian trading on Thursday after sharp declines in the previous session prompted by fears that the return of balance to market will take longer than many expect with supply outweighs demand by a large margin.
U.s. crude contracts rose for the nearest maturity 23 cents or 0.54 percent to 43.16 dollars per barrel by 0500 GMT after falling about 3 percent in the previous session, hurt by increased production and oil stocks in the United States and the economic slowdown in Asia, especially in China and Japan.
Crude contracts had increased metering international Brent 25 cents or 0.55 percent to 46.06 dollars a barrel after having registered losses amounting to 3.4 percent in the previous session.
And ANZ Bank said Thursday "the high us inventories remain a major factor pushing crude prices down. Iraq also increases pressure on oil producers American rock. Iraq shipped about 10 oil tankers in the past few weeks to deliver the raw American ports in November. "see also: