You are here


Oil falls to multi-week lows on glut worry; petrol up on outages

Monday, September 19, 2016 - 05:50

US oil output has grown more than that of any producer since 2010, data shows. A weekly reading on the US oil rig count showed a rise for the 11th out of the last 12 weeks.

New York

CRUDE oil prices fell 2 per cent on Friday to multi-week lows as swelling Iranian exports reinforced fears of a global glut, while petrol rallied on refinery and pipeline outages.

Falling US equity markets and a rising US dollar also weighed on crude futures and other

Market voices on:

Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at

Powered by GET.comGetCom