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Oil Down 3%; Rally Snaps On Supply Worry, Goldman Caution

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NEW YORK, March 8 (Reuters) - Oil prices fell 3 percent on Tuesday, ending six days of gains for benchmark Brent crude, as Goldman Sachs suggested the rally was unsustainable and industry data showed U.S. stockpiles reached record highs again last week.


Differing views on a plan to limit oil output also pressured prices. Kuwait, producing 3 million barrels per day (bpd), said it will freeze output only if all major producers participate, including Iran, which has balked at the plan



http://www.downstreamtoday.com/news/article.aspx?a_id=51361


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