Oil Prices Gradually Slump to US$60 per Barrel

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  • TEMPO.CO, Jakarta - West Texas Intermediate (WTI) oil moved up Monday morning, May 18.

    WTI in New York Mercantile Exchange for June 2015 shipment at 7:09am Monday is up by 0.13 percent to US$59.77 per barrel.

    Bloomberg said oil were sold below US$60 per barrel, after the U.S. company reduces the number of active rigs.

    However, U.S. crude supplies had more than 100 million barrels, according to government data.

    Oil prices were in level 60 during Wednesday’s closing trade (May 13).