OIL FUTURES: Prices settle about 4% lower on demand cuts, output increases

摘要

Oil futures prices settled about 4% lower Wednesday as the odds of aresurrected OPEC+ production cut agreement appeared reduced anddemand forecasts were slashed.The NYMEX April light sweet crude contract settled at $32.98/b,down $1.38 from Tuesday's settle, while May ICE Brent crude futuressettled at $35.79/b, down $1.43."Oil tried to hold out hope for a rally, but dipped when stocksdipped into bear market territory," said Phil Flynn, a senior marketanalyst with the PRICE Futures Group.