Oil tumbles as Kuwait oil workers end work stoppage
Investing.com
Published Apr 20, 2016 07:39AM ET
Investing.com - Crude futures fell on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut the nation's crude output by around half, with worries about an oversupplied market returning to the fore.
Brent crude futures were down 88 cents at $43.15 a barrel at 10:49.
U.S. crude was down 89 cents at $41.58 a barrel.
The end of the strike revived the bearish mood brought on by the failure of major producers on Sunday to agree to freeze output to help overcome a market imbalance that has caused a slump in prices since mid-2014.
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Written By: Investing.com
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