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On Wednesday, crude futures kept tumbling for a third day notwithstanding a bigger than expected dip in American crude inventories posted by an industry group, with doubts as for OPEC's ability to tame supply as previously promised.
Brent crude futures slid 0.5% being worth $51.90 a barrel. During the previous session, the commodity managed to settle down 0.4%.
American West Texas Intermediate crude futures slid 0.3% hitting $49.02 a barrel, having fallen 0.4% on Tuesday.
In America, crude stockpiles sagged more than expected the previous week because imports went down and refinery runs grew, while gasoline inventories added suddenly, as the American Petroleum Institute informed late on Tuesday.
In the week crude inventories went down by 7.8 million barrels to 478.4 million, versus analyst expectations for a dip of 2.7 million barrels.
A recovery in Libya's crude output along with higher output in Nigeria have drastically hampered OPEC's efforts to tame crude supply. Meanwhile, American shale crude drillers have increased output.
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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