Oil slips after US inventory build,but possible opec cuts support market by Expertcommodity.


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Oil slips back toward 18-month lows on oversupply by www.expertcommodity.com Oil prices  fell on Thursday after rebounding 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices even as a stock market rally offered support. Brent crude oil  fell $1.67 a barrel, or 3.1 percent, to a low of $52.80 before recovering to around $53.30. U.S.  light crude oil  dropped $1.30 to $44.92 and was last 90 cents lower at $45.32. Oil prices reached multi-year highs in early October but are now approaching their lowest levels for 18 months. Both  crude oil  benchmarks have lost more than a third of their value since the beginning of October and are heading for losses of more than 20 percent in 2018. Click Here:  www.expertcommodity.com "Fear of a bear market remains in place," said Johannes Gross at Vienna-based consultancy JBC Energy. Three months ago it looked as if the global oil market
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Oil prices slip on rising supply, trade tensions

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© Reuters. FILE PHOTO - An employee holds a gas pump to refill a car at a petrol station in central Seoul www.expertcommodity.com call or whatsapp on-(9627214242) & (9759995554) Oil prices slipped on Tuesday, depressed by concerns that the U.S.-China trade dispute will dent economic growth and by signs of rising global supply despite upcoming sanctions against Iran. Benchmark  Brent crude oil  was down 15 cents a barrel at $77.19 by 0835 GMT. U.S. light crude was unchanged at $67.04. Both contracts have recovered ground over the last week but are around $10 a barrel below four-year highs reached in the first week of October. Oil has been caught in the global financial market slump this month, with equities under pressure from the trade war between the world's two largest economies. Financial markets found some support on Tuesday from reports that U.S. President Donald Trump thinks "a great deal" with China is possible on trade.
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Asia's  Iran crude  imports hit more than five-year low in November as sanctions bite by  www.expertcommodity.com Imports of Iranian  crude oil  by major buyers in Asia hit their lowest in more than five years in November as U.S. sanctions on Iran's oil exports took effect last month, government and ship-tracking data showed. China, India, Japan and South Korea last month imported about 664,800 barrels per day (bpd) from Iran, according to the data, down 12.7 percent from the same month a year earlier. South Korea cut imports to zero for a third month in November while Japan followed suit. India's November imports are down about 40 percent from October, the data showed. Click Here:  www.expertcommodity.com Asia's Iranian oil imports are set to rise from December after the United States granted eight countries waivers from sanctions against Iran's  oil exports  for 180 days. China's Iranian oil imports rebounded to close to 390,000 bpd in Nov
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