WTI Oil Futures Continue to Decline Following Tuesday's Losses
The nearby West Texas Intermediate (WTI) crude oil futures contract closed at about $77 per barrel on Tuesday, a decline of 2.1% from the previous day’s settlement price. Yesterday’s loss followed two consecutive days of gains.
WTI oil futures, the main oil benchmark for North America, are lower again so far Wednesday and have dipped below $76 per barrel as of this writing. Brent crude oil futures are also under pressure, with the June contract last down by 1.6% to $79.45 per barrel.
In March, the total U.S. production of crude oil and natural gas liquids (NGL) declined by 0.4% month-over-month to 18.2 Mb/d, according to the American Petroleum Institute...
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