Crude prices tumble amid fresh supply glut concerns… more @www.gurusresearch.com

U.S. oil tumbled on Wednesday, as an increase in Libyan production sparked fresh concerns over a global supply glut despite the extension of OPEC-let output cuts. U.S. crude futures for July delivery were down 1.93% at $48/69 a barrel, the lowest since May 26. On the ICE Futures Exchange in London, the July Brent contract Read more about Crude prices tumble amid fresh supply glut concerns… more @www.gurusresearch.com[…]

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Oil falls as rising Libyan, U.S. output undermines cuts… more @www.gurusresearch.com

Oil prices fell on Wednesday, as rising output from Libya added to concerns about increasing U.S. production that is undermining OPEC-led production cuts aimed at tightening the market. Brent crude futures (LCOc1), the international benchmark for oil prices, were at $51.59 per barrel at 0523 GMT, down 25 cents, or 0.5 percent, from their last Read more about Oil falls as rising Libyan, U.S. output undermines cuts… more @www.gurusresearch.com[…]

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