Oil prices fall on further rise in US drilling, signs of slowing demand

Oil prices fall on further rise in US drilling, signs of slowing demand

Oil prices fell early on Monday, weighed down by high supplies despite an OPEC-led initiative to cut production to tighten the market.

Signs of faltering demand stoked weak sentiment, prompting price levels comparable to when the output cuts were first announced late last year.

Brent crude futures were down 11 cents, or 0.23 percent, at $47.26 per barrel at 0035 GMT. Read More…

 

 

 

 

Credit By: ET Energy World

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