By Srinivas Chowdary Sunkara // petrobazaar // 29th August, 2018.
Brent futures settled at $75.95 after losing 26 cents and WTI closed down at $68.53 with a loss of 34 cents last night. Brent drew support from weak dollar and traded with gains during the early hours and WTI was supported by U.S – Mexico trade agreement and touched above $69. The bearish API report predicted a surprise build in U.S crude and gasoline supplies weighed on the oil prices. Traders preferring profit booking also triggered oil prices down. OPEC and non-OPEC producers participating in supply reduction agreement and Chinese oil demand numbers kept a flour for oil prices. Both the crude markers are trading flat during Asian hours today and EIA needs to confirm API numbers. Have a great day.
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