Oil Prices Fall Sharply on Output Concerns

3 May 2017   Prices

Oil prices took some of their biggest losses of the year Tuesday, with concerns about rebounding output from Libya and rising production in the U.S. pushing prices to new lows. Brent crude, the global benchmark, fell to its lowest point since Nov. 29. U.S. oil is at its second-lowest settlement since then, and Tuesday’s losses were its third-biggest of any session in 2017. Most of the losses came in a steep drop late in the…

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