Oil slips on signs of rising supplies, economic slowdown jitters ( 100% SURE MCX HNI CALLS) WWW.TRADEMAXINDIA.COM CALL@ (8218997961/8218995526)

LIVE CRUDE OIL UPDATE ::

Oil prices fell on Thursday, extending losses in previous sessions, amid signs of rising supply and growing concerns that demand might weaken on the prospect of a global economic slowdown.

The Brent crude January LCOc1 futures contract lost 46 cents, or 0.61 percent, to trade at $74.58 per barrel by GMT0451. West Texas Intermediate (WTI) crude CLc1futures fell 41 cents to $64.90 a barrel.

Both benchmarks posted their worst monthly performance since July 2016 on Wednesday, with Brent falling 8.8 percent for October and WTI dropping 10.9 percent.

Thursday’s drops came after U.S. Energy Information Administration data showed crude oil inventories climbed for a sixth straight week. strong built in oil inventories is likely to keep downward pressure on oil prices,” ANZ Research analysts said in a note.

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TECHNICAL DEPARTMENT

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