Oil falls in early Asian trade on more signs of increased supply amid easing Middle East tensions. The supply has surged in recent weeks, ANZ Research analysts say. They cite a media report quoting a U.S. official as saying that American military support has helped boost oil flows to more than 10 million barrels a day. Also, "the U.S. and Iran arrived for peace talks in Doha, with U.S. negotiators saying progress in indirect talks with Iran had been made," the analysts say. "This eased concerns that a return to conflict between the two sides would disrupt the movement of oil through the Strait of Hormuz," they add. Front-month WTI crude oil futures are 0.8% lower at $68.04 per barrel. (ronnie.harui@wsj.com)
Dow Jones Newswires
Oil Falls as Supply Increases Amid Easing Mideast Tensions — Market Talk
- Sources
- Dow Jones Newswires
- Markets
- Futures
- Active symbols
- MCX:CRUDEOIL1!, NYMEX:CL1!, TVC:USOIL
- Language
- English
Oil falls in early Asian trade on more signs of increased supply amid easing Middle East tensions. The supply has surged in recent weeks, ANZ Research analysts say. They cite a media report quoting a U.S. official as saying that American military support has helped boost oil flows to more than 10 m…