Off the wire
• Equities put up good performance Wednesday at JSE  • Roundup: Managed migration can provide EU with economic opportunity: EIB  • U.S. dollar rallies on China data  • Germany's benchmark DAX index closes up  • Slovenian police seize 100 kg of cocaine in shipment  • Latest round of Syria peace talks kicks off as planned  • Foreign exchange rate of Euro to other currencies  • Crude prices drop amid profit-taking  • SA Treasury warns Denel of disciplinary proceedings over alleged dealing with Gupta  • Gold down 1 percent on stronger U.S. dollar, equities  
You are here: 　 Home

Crude prices go down on profit-taking

Xinhua, April 14, 2016 Adjust font size:

Oil prices retreated Wednesday amid profit-taking after sharp gains.

Oil prices rallied Tuesday as Saudi Arabia and Russia reached a consensus to cap the crude production during talks between the two nations.

Crude production of U.S. lost 31,000 barrels to 8.977 million barrels a day last week, according to the weekly report released by the Energy Information Administration (EIA) Wednesday.

U.S. crude supplies gained 6.6 million barrels to 536.5 million barrels last week, 52.8 million barrels more than one year before, the EIA said.

The West Texas Intermediate for May delivery moved down 41 cents to settle at 41.76 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery decreased 51 cents to close at 44.18 dollars a barrel on the London ICE Futures Exchange. Endit