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Oil prices fall sharply for second straight day

stander
stander
in Oil, Gas and Energy News

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NEW YORK, July 6 (UPI) -- Supply-side pressures returned for a second straight day to pull oil prices lower Wednesday, with $50 per barrel fading further away from view.


Crude oil prices moved sharply lower Tuesday in reaction to indications the U.S. crude oil market in the Lower 48 was recovering. Data last week from Baker Hughes showed more activity in shale basins in North America, which could add to some of the supply-side pressures that brought crude oil down from $100 per barrel two years ago.


http://www.upi.com/Business_News/Energy-Industry/2016/07/06/Oil-prices-fall-sharply-for-second-straight-day/9011467812054/?nll=1


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