Oil fell on Wednesday after the U.S. government said shale output would rise to a record next month, denting a rally that sent prices to their highest this year.
Brent futures eased by 53 cents to trade at $65.92 a barrel by 1312 GMT, still within sight of Monday’s high for the year of $66.83. U.S. futures were at $55.77 a barrel, down 31 cents, having touched a 2019 peak of $56.39 earlier.
“Brent is trading in a narrow corridor at around $66.5 per barrel, while WTI is at around $56,” Commerzbank analysts said in a note.
“This still leaves them within spitting distance of the three-month high they achieved at the start of the week ... It seems that the sharp rise in oil production in the U.S. is... Read more »
The Politburo is considering a new program
The Political Bureau discusses government formation
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