Plus   Neg

Crude Oil Holds $60 Mark Amid Middle East Turmoil

Crude oil prices were flat Tuesday morning amid mounting unrest in the Middle East, where ISIS is again taking the fight to authorities in Iraq.

Meanwhile, political upheaval in Iran and recent supply interruptions in Libya have raised concerns about the region.

U.S. crude oil inventories have falled sharply four weeks in a row, suggesting that robust demand and diminished production could soon re-balance the global oil markets.

Still, the EIA says that by the end of 2018, the U.S. is likely to bypass the top producer Russia.

WTI light sweet oil was down 10 cents at $60.11 a barrel.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT