Crude sags on ascending American shale output

Crude sags on ascending American shale output

On Tuesday, crude markets went down, suppressed by soaring American shale output as well as fears that another hurricane affecting the Caribbean could knock out refineries, disrupting shipping to and from the USA.

Nevertheless, dipping shipments from leading exporter Saudi Arabia prevented oil prices from going down further, as some financial experts state.

US West Texas Intermediate crude futures CLc1 reached $49.83 a barrel, sliding8 cents from their previous settlement.

In October, American shale output is set to ascend for a tenth month in a row, as the US government informed on Monday.

Apparently, output across seven shale plays is believed to rally by almost 79,000 barrels a day, hitting 6.1 million bpd, as follows from the US Energy Information Administration's monthly drilling output report.

Outside America, Brent crude futures LCOc1 tumbled 15 demonstrating an outcome of $55.33 a barrel.

Similar

Latest news

Japan real wages surge is slowest in almost two years

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…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera