The extra supply is coming from further draws in U.S crude inventories which have pushed oil prices to increase more than 1 percent.
The extra supply is coming from further draws in U.S crude inventories which have pushed oil prices to increase more than 1 percent.
The 1% increase is even a slowed-down rise because of expected cuts in supply from Turkey due to Friday’s attempted coup d’état.
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The oil market is waiting to see how much supply the U.S will draw from its inventory in order to give a more concrete gauge to the price.
Brent crude slipped 11 cents to $46.85 a barrel as of 0657 GMT after finishing the previous session down 65 cents, or 1.4 percent.
U.S. crude, known as West Texas Intermediate (WTI), fell 11 cents to $45.13 a barrel after settling 71 cents, or about 1.6 percent, lower in the previous session.
