WTI crude prices drop to $48.3 per barrel

MG News | December 18, 2018 at 02:20 PM GMT+05:00

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December 18, 2018 (MLN): Oil prices declined by 1 percent on Tuesday for the third consecutive session, as reports of inventory builds and forecasts of record shale output in the United States fueled worries on oversupply.

Concerns around future oil demand amidst global economic crisis and doubts over the effect of production cuts led by the OPEC were also pressuring prices.

International benchmark Brent crude oil futures were at $57.8 per barrel at 0824 GMT, down 1.96 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were down by 1.58 percent, at $48.3 per barrel.

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KSE30	57,455.57 43.16M	0.29% 163.44
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Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,625.00	77,110.00 75,595.00	-55.00 -0.07%
BRENT CRUDE	67.77	68.26 67.50	0.44 0.65%
RICHARDS BAY COAL MONTHLY	90.00	0.00 0.00	-3.35 -3.59%
ROTTERDAM COAL MONTHLY	99.50	102.00 99.50	-2.45 -2.40%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
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