Oil prices drop as IEA warns of ‘enormous’ stockpiles

NEW YORK, United States — Crude futures fell for a fourth session running Tuesday as the International Energy Agency (IEA) warned that huge stockpiles would cap any future price gains.  In New York, US benchmark West Texas Intermediate for July delivery shed 39 cents to $48.49 a barrel. In London, Brent North Sea crude for delivery in August was down 52 cents at $49.83 a barrel. Read more here.

Advertisement

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s