Oil Prices Down Amid U.S. Inventories Surge, Trade Tension.
Oil stayed bearish on Thursday morning in Asia as the U.S. revealed record inventories, while request keeps on being undermined by financial log jam and exchange debates.
U.S. Raw petroleum WTI Futures were at $51.85 per barrel in the wake of plunging to $51.31 prior on Thursday.
Brent Oil Futures, the universal benchmark at oil costs, had tumbled underneath the $60 mark in the past session. They were at $60.84, recouping marginally by 0.29%.
WTI and Brent hit their least dimensions since January after a flood in U.S. rough inventories.
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