Opec Chatter, US Output Weigh on Crude

摘要

Oil prices ended mixed on Thursday after a seesaw trading session, as investors weighed rising US production against geopolitical uncertainties and comments from leading Gulf oil producers that an extension to Opec-led supply cuts was likely. In New York, Nymex West Texas Intermediate (WTI) settled down 17￠ for a fourth straight day of losses to $50.27 per barrel. In London, Brent futures posted modest gains, however, ending up 6￠ to $52.99/bbl. Opec members Saudi Arabia and Kuwait signaled that Opec countries and other producers, including Russia, would likely extend their oil output cut beyond June (related). At a press conference in the United Arab Emirates, Saudi Energy Minister Khalid al-Falih said that “there is consensus building but it's not done yet."