The Traderszone Network

Published in TZ Latest News 8 April, 2015 by The TZ Newswire Staff

Oil edges back from 6 percent fall, but outlook weak

Oil prices rose more than a percent on Thursday, clawing back part of the 6 percent slump in the previous session that was triggered by a shock jump in U.S. crude inventories and record Saudi output, although analysts said sentiment remained bearish. A 10.95 million-barrel surge in U.S. crude stockpiles to 482.4 million last week, the biggest gain in 14 years, and Saudi oil production of 10.3 million barrels a day in March had battered crude futures on Wednesday. “Total U.S.

read more