U.S. oil prices sank to a fresh three-month low Tuesday as a glut of gasoline keeps weighing on the market.
U.S. oil for September delivery settled down 21 cents, or 0.5%, at $42.92 a barrel on the New York Mercantile Exchange. Six losing sessions out of the past seven have sunk it to its lowest settlement since April 25. Brent, the global benchmark, gained 15 cents, or 0.3%, to $44.87 a barrel on ICE Futures Europe, snapping a three-session losing streak. Continue reading “U.S. Oil Prices Hit 3-Month Lows on Growing Oversupply Concerns”
