Brent crude fell 47 cents, or 1%, to settle at US$44.90 a barrel while West Texas Intermediate (WTI) for September delivery ended the session 35 cents, or 0.8% lower, at $42.58 a barrel on the last day of trading. The more active October WTI contract ended down 29 cents, or 0.7%, at $42.82 a barrel.
NEW YORK: Oil fell 1% on Thursday after Reuters reported OPEC+ needed to address daily oversupply of more than 2 million barrels, and the number of U.S. unemployment benefit claims rose unexpectedly, signalling a slow economic recovery.
Brent crude fell 47 cents, or 1%, to settle at US$44.90 a barrel while West Texas Intermediate (WTI) for September delivery ended the session 35 cents, or 0.8% lower, at $42.58 a barrel on the last day of trading. The more active October WTI contract ended down 29 cents, or 0.7%, at $42.82 a barrel.
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