Oil falls as demand worries re-emerge, crews return to U.S. Gulf rigs

Oil prices fell on Thursday, after rising in the two previous sessions, as concerns about weak fuel demand re-emerged after production platforms in the southeastern United States took steps to resume output following Hurricane Sally’s passage. U.S. West Texas Intermediate (WTI) crude futures were down 43 cents, or 1.1%, to $39.73 a barrel , after jumping 4.9% on Wednesday. “We are seeing some profit-taking this morning from market participants who remain broadly sceptical that crude has priced in the market’s weaker turn through Q3-Q4 and specifically don’t buy into yesterday’s sharp rebound,” said Vandana Hari, oil market analyst …read more

Source:: Yahoo Finance