Oil At Risk Of Plunging Further

Oil is down 10 percent after reaching its high last month. Crude oil was trading at $60 per barrel yesterday, with its main influences being the production cut as well as the weakening dollar. A reporter for CNBC stated, “However, I believe this is nothing more than a temporary recovery. Anticipated interest rate hikes this …

High U.S Output Steadies Oil

After a rough week, oil returns to a steady position. Despite the drop in recent inventories, the U.S. output was so high that it established an offset. Nasdaq reports, “Brent crude futures edged down 11 cents to $66.75 a barrel by 0951 GMT, while U.S. West Texas Intermediate (WTI) crude futures eased 12 cents to …