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American Oil falls more than 2% because of fears of an oversupply

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Rocky


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American Oil falls more than 2% because of fears of an oversupply





11/23/15

Agencies - contracts crude oil futures prices fell in early Asian trade with the US oil falling more than 2% due to continued fears of a global supply glut of oil.
The decline in the price of WTI January 78 cents or 1.86% to $ 41.12 delivered a barrel.

The US crude price has dropped to $ 40.96 a barrel earlier in the session near the levels seen on Friday before contracts for the month of December for US crude ends.

The decline in the price of crude, "Brent" to the nearest month maturity in January 47 cents or 1.05% to $ 44.19 a barrel, up from the low level reached during the session of $ 44.04.

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