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Oil prices retreat on global glut worries

Xinhua, July 22, 2016 Adjust font size:

Oil prices pulled back Thursday as concerns about a global supply glut continued to weigh on the market.

The West Texas Intermediate for August delivery fell 1 U.S. dollar to settle at 44.94 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery lost 0.97 dollar to close at 46.20 dollars a barrel on the London ICE Futures Exchange. Endit