Loading…
U.S. crude prices fell short of their 2017 high on Wednesday and then dropped after a government report showed smaller stockpile declines than industry data had indicated. The report also showed U.S. oil exports at an all-time high and production near record levels.
WTI settled at $54.30, and Brent fell 45 cents.
Record U.S. exports and output add supply pressure and push prices lower after a sharp rally. Profit-taking at elevated levels could limit near-term gains.
cnbc.comTom DiChristopherNov 2, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
