Oil prices fell for the seventh consecutive day
Buz Investors Oil prices fell The commodity is trading at $48.58 per barrel at 09:40 GMT this morning, 0.33% higher from the New York close. Crude oil witnessed a high of $48.64 per barrel and a low of $48.26 per barrel during the session. In the New York session yesterday, crude oil rose 0.12% to close at $48.42 per barrel, reversing its previous session losses. Meanwhile, the EIA predicted that US shale producers will likely raise oil output by 109,000 barrels a day in April. Immediate downside, the first support level is seen at $48.13 per barrel, while on the upside, the first resistance level is at $48.85 per barrel.
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Oil prices fell
EIA predicted that US shale producers will likely raise oil output by 109,000 barrels a day in April.
Oil prices fell for the seventh consecutive day on Tuesday and hit the lowest level since November 29th, after Opec has increased its forecasts for non-member countries output in the latest monthly report. The US crude decreased 1.4% to $47.7 a barrel and the Brent crude was down 1.2% to $50.7 a barrel around 12:45 PM London time. Historically, Crude oil reached an all time high of 145.31 in July of 2008 and a record low of 1.17 in February of 1946.
Crude oil is the world’s most actively traded commodity. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so. This page provides – Crude oil – actual values, historical data, forecast, chart, statistics, economic calendar and news. Crude oil – actual data, historical chart and calendar of releases – was last updated on March of 2017.