Oil skids on concerns of rising surplus in the first quarter

Oil skids on concerns of rising surplus in the first quarter

- Brent crude futures extended declines for a third session, falling 96 cents, or 1.2%, to $81.26 a barrel by 0130 GMT. - U.S. West Texas Intermediate (WTI) crude was down $1.35, or 1.7%, at $77.04 a barrel Oil prices slid more than 1% on Friday on concerns that a global supply surplus could swell in the first quarter following a coordinated release of crude reserves among major consumers, led by the United States. Brent crude futures extended declines for a third session, falling 96 cents, or 1.2%, to $81.26 a barrel by 0130 GMT. U.S. West Texas Intermediate (WTI) crude was down $1.35, or 1.7%, at $77.04 a barrel. There was no settlement for WTI on Thursday because of Thanksgiving holiday. U.S. President Joe Biden's administration announced plans on …
More on: www.cnbc.com