Global crude oil prices edged lower, today, with the market growing increasingly skeptical that a looming deal to freeze crude production can help clear a global glut. Brent crude oil futures fell 64 cents, to 39.69 dollars a barrel. Brent climbed rose 6 percent in the first quarter of this year. U.S. crude fell 64 cents, to 37.70 dollars a barrel. US crude gained almost 4 percent during the January to March quarter. Prices have recently pulled back on concerns about oversupply ahead of an oil producers' meeting in Doha to agree a possible output freeze on April 17.Oil prices fell despite a lower dollar, and China's official PMI showing an unexpected expansion in March, the first in nine months. Putting a floor under prices was a drop in U.S. crude output, to the lowest since October 2014.
News On AIR | April 1, 2016 8:46 PM
Brent crude oil futures falls 64 cents, to 39.69 dollars a barrel