US crude oil falls more than 1% on supply surplus
SEOUL: US crude oil futures fell more than one percent in early Asian trading on Friday, under pressure from concerns of a supply glut, although market activity was subdued due to a US holiday.
West Texas Intermediate (WTI) futures, the US crude benchmark, dropped 45 cents or 1.05 per cent to $42.59 per barrel at 2347 GMT.
Brent crude settled down 71 cents at $45.46 a barrel in the previous session, having earlier dropped more than $1 to a session low of $45.00 a barrel.
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SEOUL: US crude oil futures fell more than one percent in early Asian trading on Friday, under pressure from concerns of a supply glut, although market activity was subdued due to a US holiday.
West Texas Intermediate (WTI) futures, the US crude benchmark, dropped 45 cents or 1.05 per cent to $42.59 per barrel at 2347 GMT.
Brent crude settled down 71 cents at $45.46 a barrel in the previous session, having earlier dropped more than $1 to a session low of $45.00 a barrel.
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