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Motilal Oswal
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Oil prices hover near January lows amid surging supply, economic slowdown

Updated : June 06, 2019 08:51 AM IST

Front-month Brent crude futures were at $60.78 at 0246 GMT. That was 15 cents, or 0.3 percent, above last session's close.
US West Texas Intermediate (WTI) crude futures were at $51.84 per barrel, 16 cents, or 0.3 percent, above their last settlement.
Brent and WTI on Wednesday hit their lowest levels since mid-January at $59.45 and $50.60 per barrel, respectively, amid a surge in US crude inventories and record production, and as a global economic slowdown was starting to hit energy demand.
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