Oil slid more than 1% as US supply concerns subsided
International benchmarks for crude oil concluded the trading session on Tuesday, 09 July more than 1% lower as Hurricane Beryl left less damage to the oil-producing hub in Texas than initially feared.
International benchmarks for crude oil concluded the trading session on Tuesday, 09 July more than 1% lower as Hurricane Beryl left less damage to the oil-producing hub in Texas than initially feared.
The trading session also swung sharply within the $1 range in reaction to the FED Chairman’s testimony to the US Congress.
Brent shed $1.09 or 1.3% to close at $84.66/barrel.
WTI fell 92 cents or 1.1% to close at $81.41/barrel.
Written by: Rochelle Nguyen