Brent drops below $60, WTI near $50 on U.S. stockpiles, Opec uncertainty
Brent drops below $60, WTI near $50 on U.S. stockpiles, Opec uncertainty
Brent crude oil fell below $60 a barrel Wednesday, while West Texas Intermediate hovered over $50/Bbl, after U.S. crude inventories rose for the 10th straight week.
The market also remains queasy over whether Opec-led producing countries will reach an accord next week on output cuts.
Saudi Arabia said Wednesday it wouldn’t cut output if it was the only producer doing so, and Nigeria would not commit...