Singapore-Melbourne-SANA
Oil prices retreated today, continuing their losses after losing 5% in the previous session, with the re-imposition of restrictions to contain a second wave of infections in Corona and amid indications of a global supply glut.
Reuters reported that US West Texas Intermediate crude futures fell eight cents, equivalent to 0,21 percent, to $ 37.31 a barrel, while Brent crude futures fell 12 cents, or 0,31 percent, to $ 39.
Yesterday, US Energy Information Administration data provided new evidence of a growing glut. US crude stocks increased 4.3 million barrels in the week ending October 23, an increase that exceeded expectations.
