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Oil prices edge away from two-month low, but market outlook stays weak
November 12, 2015 by publisher · Leave a Comment
By Henning Gloystein SINGAPORE (Reuters) – Crude oil prices edged away from over two-month lows in early Thursday trading, after a sharp slide on concerns the market would take much longer than many anticipated to rebalance as supplies far outstrip demand. Internationally traded Brent crude futures were at $46.18 a barrel, up 37 cents following a 3.4-percent fall the previous day. “Rising U.S. inventories continue to remain a major theme driving crude oil prices … Iraq is also increasing pressure on U.S. shale producers.
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Oil prices edge away from two-month low, but market outlook stays weak