WTI crude prices drop to $48.3 per barrel

By 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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KSE100	130,686.66 280.01M	0.26% 342.63
ALLSHR	81,305.25 897.01M	0.35% 281.26
KSE30	39,945.45 114.02M	0.09% 37.19
KMI30	190,698.05 148.61M	0.61% 1163.05
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Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	110,240.00	110,525.00 110,155.00	-175.00 -0.16%
BRENT CRUDE	68.85	69.14 68.32	-0.26 -0.38%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	-0.75 -0.76%
ROTTERDAM COAL MONTHLY	108.45	109.80 108.45	-0.55 -0.50%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	67.13	67.18 67.00	0.13 0.19%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%