Oil price recovers slightly after big loss

After Tuesday's major loss, the oil price has recovered slightly although prices continue to sit at the lowest levels in a long time.

Wednesday, one barrel of Brent oil is going for USD 63.62 against USD 62.53 Tuesday. Meanwhile a barrel of US WTI oil sells for USD 54.4 Wednesday against USD 53.43 Tuesday.

Tuesday, the price for Brent and WTI oil fell by 6.4 percent and 6.6 percent, respectively, because investors deemed that expected production reductions would not be sufficient to offset oversupply on the market. Additionally, the uncertainty impacted stock markets, indicating increasing concerns about economic growth.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs