Oil Pulls Back After U.S. Proposal to Sell Stocks

refinery, oil, gas, midstream, upstream, pipeline

News that the U.S. could sell a portion of its emergency crude stocks kept prices under pressure

Crude Oil: $50.73 barrel, Natural gas: $3.330/MMBtu, Gold:$ 1260.70 per troy oz


News:

LONDON—Oil prices eased off a more than one-month high on Tuesday, with the U.S. plan to sell some of its stocks contributing to the pullback and offsetting investors’ optimism that the coming OPEC meeting of major producers would result in more production cuts.

Brent crude, the global oil benchmark, fell 1% to $53.35 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were.. Read more.

Resource: WSJ


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