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U.S. oil rises, global crude weaker on strong Middle East output
May 31, 2016 by elegant · Leave a Comment
U.S. oil prices rose on Tuesday, buoyed by the start of the U.S. summer driving season, while international fuel markets fell on rising output in the Middle East, which mostly serves Asian customers. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.58 per barrel at 0707 GMT (04:07 a.m. EDT), up 25 cents from their last settlement. Brent crude oil futures were down 18 cents to $49.58 a barrel.
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U.S. oil rises, global crude weaker on strong Middle East output