Oil prices drop

摘要

Oil prices fell sharply, weighed down by mounting North Sea crude supplies and lower US gasoline demand. Atlantic basin benchmark North Sea Dated fell by more than $6/bl to $47.81/bl in the week to 6 August, while US marker WTI shed $3.86/bl to $44.66/bl. North Sea Dated has fallen to its lowest since late January. Production of the four crudes that make up the benchmark — Brent, Forties, Ekofisk and Oseberg — is forecast to rise by 15pc to 1mn b/d in September, an 18-month high. And a 2mn bl cargo of Forties came back on the market after its shipment to South Korea was cancelled, putting further pressure on the market.