Oil steady but sentiment weak on demand, oversupply concerns
Updated : June 06, 2019 10:28 PM IST
On Wednesday, the two benchmarks hit their lowest levels since mid-January at $59.45 and $50.60, respectively, after US crude production hit a new record high and stockpiles hit their highest since July 2017.
Both Brent and US crude are in bear-market territory, having lost more than 20% from peaks reached in late April.
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