Crude oil futures prices hit 8-month low despite resumption of sanctions on Iran
- 5 years ago
Crude oil prices dips.... despite resumption of Washington's sanctions on Iran.
At the market close on Wednesday,.... the December futures for West Texas Intermediate Crude.... was trading at.... 61-point-6-7 U.S. dollars per barrel, its lowest in eight months,.... after falling Point-nine percent from the previous day.
January futures for Brent Crude also fell slightly to 72-point-Oh-seven.
The decline is mainly attributed to an increase in America's oil production.
According to the U.S. Energy Information Administration.... the country's crude inventories went up by 5-point-8 million barrels last week... and overall production reached a new weekly record of 11-point-6 million barrels a day.
At the market close on Wednesday,.... the December futures for West Texas Intermediate Crude.... was trading at.... 61-point-6-7 U.S. dollars per barrel, its lowest in eight months,.... after falling Point-nine percent from the previous day.
January futures for Brent Crude also fell slightly to 72-point-Oh-seven.
The decline is mainly attributed to an increase in America's oil production.
According to the U.S. Energy Information Administration.... the country's crude inventories went up by 5-point-8 million barrels last week... and overall production reached a new weekly record of 11-point-6 million barrels a day.