Crude down on weak Chinese factory data, ample US supplies
Crude prices have declined after hitting 2015 high above $67 per barrel on ample US crude oil supplies and weak Chinese factory activity.
Light, sweet crude for June delivery recently lost 40 cents to $58.75 a barrel on the New York Mercantile Exchange.
Brent, the global benchmark, fell 29 cents to $66.17 a barrel.
Crude Prices jumped to five-month highs earlier in the session over signs of stronger economic growth in the eurozone.
Some analysts blamed weak Chinese factory activity as well as ample current supplies for the slipping oil prices.
Oil prices declined in weekend trading after Iraq's Ministry of Petroleum announced its crude oil exports have hit a record in April.
Crude prices plummeted nearly 60 percent between June and January as a result of a global supply glut and ramped up production.
HA/HA
Crude prices fall on possible ceasefire in Lebanon
Breaking up Google an option being considered by US, report shows
Boycott on Israel helped Arabs revive their economies: Analysis
Nov. 23: ‘Axis of Resistance’ operations against Israeli occupation
Lindsey Graham threatens to sanction US allies backing ICC arrest warrants
VIDEO | Tens of thousands of Catalans protest to demand access to better housing
Israel launches air strikes on Syria-Lebanon border crossing
Russia: Comprehensive deal with Iran will include defense, security ties
VIDEO | Israeli embassy shooting in Jordan leaves gunman dead, 3 police injured
VIDEO | Paris march in support of Palestine women
VIDEO | ICC issues arrest warrants for Israeli prime minister, ousted regime war minister
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
