Oil falls about 1% on surprise US crude build, Saudi crude output
Updated : September 26, 2019 12:34 PM IST
Brent crude futures settled at $62.39 a barrel, shedding 71 cents, or 1.1 percent, while US West Texas Intermediate crude settled 80 cents, or 1.4percent, lower at $56.49 a barrel.
Saudi Arabia restored production capacity to 11.3 million barrels per day, a quicker recovery than expected after the September 14 attacks that halved more than half the kingdom's output.
China is the world's largest oil importer and is second-largest crude consumer after the United States.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more