Oil Prices Hit Multi-Month Lows on Oversupply Fears
Oil prices fell to fresh multi-month lows as a persistent oversupply continued to spook the market.
- 57Oil prices fell to new multimonth lows as U.S. drilling continued to increase despite a persistent oversupply of crude.
- 47Oil prices kicked off the month deep in the red, sliding to fresh multi-month lows, with bearish supply and demand data contributing to the market’s gloomy mood.
- 45Oil prices fell near multi-month lows Wednesday after weekly inventory data showed a larger-than-expected drop in U.S. crude supplies but a small increase in production.
- 32Oil prices are dropping and on pace to set new multi-month lows Friday as data show U.S. producers are putting more drilling rigs to work despite a lingering world-wide glut.
- 32The oil market indicates that prices could stay lower for longer, delivering a fresh blow to hard-hit energy exploration-and-production companies.