Oil reached a 11-day low
oil prices have reached the lowest low of 11 days on Tuesday to news that the extraction of shale oil in the US in May, is expected to the biggest monthly increase in more than two years. Such action on the part of the United States could undermine the fragile balance in the oil market.
According to the US showed shale production in the next month will rise to 5.19 million barrels a day. The Permian play pool, planned production of shale oil in the range of 2.36 million barrels per day.
Futures for Brent crude fell 49 cents to $ 54.87 a barrel. They touched $ 54.76, the lowest intraday trading on April 7th.
Futures for WTI crude traded 46 cents lower to $ 52.19 per barrel. They made an intraday low of $ 52.16, also the lowest level since April 7.
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