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Home » Charts » 05/07/15: US Crude Drifts Below $60/Barrel

05/07/15: US Crude Drifts Below $60/Barrel

Posted by FXTimes in Charts - May 7th, 2015 8:04 pm GMT

US oil prices eased off five-month highs on Thursday, falling below $60 a barrel amid concerns about growing Iranian oil supplies should sanctions on Tehran be lifted next month.

West Texas Intermediate (WTI) for June delivery fell 3.3 percent or $2.09 to $58.84 a barrel Thursday afternoon. The US benchmark had climbed above $62.50 a barrel earlier in the week, its highest level since December.

WTI is still poised for its ninth consecutive weekly gain.


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Meanwhile, Brent crude eased off 2015 highs, falling 3.3 percent or $2.26 to $65.61 a barrel.

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