Oil prices slip on economic worries, surging US crude supply

US crude oil production remained at a record 12.2 million barrels per day.

(Reuters)
Updated 11 April 2019
REUTERS
April 11, 201906
US crude inventories rose 7 million barrels to 456.6 million barrels in the last week
Despite the surge in US supply and the economic concerns, global oil markets remain tight amid supply cuts
SINGAPORE: Oil prices were dragged down on Thursday by surging US crude stockpiles and record production, while economic concerns cast doubt over growth in demand for fuel.
International benchmark Brent futures were at $71.52 per barrel at 0642 GMT, down 21 cents, or 0.3 percent, from their last close.
US West Texas Intermediate (WTI) crude oil futures were at $64.34 per barrel, down 27 cents, or 0.4 percent, from their previous settlement.

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