Oil falls on rising US stockpiles, but markets remain tense
Updated : May 22, 2019 10:12 AM IST
Brent crude futures were down 36 cents, or 0.5 percent, at $71.82.
Despite the slowdown, US bank Morgan Stanley said it expected Brent prices to trade in a $75-$80 per barrel range in the second half of this year.
Saudi Arabia on Wednesday said it was committed to a balanced and sustainable oil market.
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