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Oil prices ease on potential supply hikes

Kalerkantho Online   

16 July, 2018 10:36 AM



Oil prices ease on potential supply hikes

Reuters file photo

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Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers.

Brent crude futures were down 48 cents, or 0.

6 percent, at $74. 85 a barrel at 0302 GMT.

U. S. West Texas Intermediate (WTI) crude was down 39 cents, or 0. 6 percent, at $70. 62 a barrel, reports Reuters.

Supply outages in Libya and strike action in Norway and Iraq pushed oil prices higher late last week, although prices still ended down for a second straight week.


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