: Oil prices end with a loss, turn lower for the month
Oil futures fell on Wednesday, with front-month prices for the U.S. benchmark turning lower for the month. “Below $80 a barrel on the back of concerns over weaker demand, prices appear set on a course to retest the recent lows,” said Michael Hewson, chief market analyst at CMC Markets UK. Still, “it probably won’t be too long before OPEC+ raises the prospect of fresh reductions in output if demand continues to look weak,” he said. June West Texas Intermediate crude CLM23 declined by $2.77, or 3.6%, to settle at $74.30 a barrel on the New York Mercantile Exchange, with prices for the front-month contract down 1.8% for the month so far, according to Dow Jones Market Data.
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