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Business

WTI price falls on threat of OPEC boost, funds quit crude

NEW YORK: U.S. crude futures fell more than US$1 on Tuesday on worries that Saudi Arabia and Russia will pump more crude to boost supplies after more than a year of reducing worldwide inventories

Business

Oil ends July with worst monthly loss for WTI in a year

NEW YORK: Oil prices steadied on Friday after touching three-month lows during a week-long selloff fueled by a persistent global supply glut, bringing the monthly decline to nearly 15 percent, the biggest monthly loss in a year for U.S. crude.

Business

Goldman cuts WTI, Brent forecast by US$15 for 2015

TOKYO: Goldman Sachs cuts its price forecast for Brent and West Texas Intermediate by US$15 a barrel for the first quarter of 2015, saying rising production in non-OPEC countries outside North America is expected to outstrip demand.

Business

Oil prices struggle after WTI sinks below US$60

SINGAPORE: Oil prices sank further in Asia Friday, with analysts warning of little respite from the the selling after plunging more than 40% since June.