Oil records worst monthly performance since 2016

Oil records worst monthly performance since 2016

Washington _ Agencies

Oil prices, Wednesday, and the worst monthly performance since mid-2016, have fallen due to signs of rising global crude supply, but the losses were limited with indications of strong U.S. demand for fuel.

The futures of the global metering crude have dropped the December Brent handover, which ended on Wednesday, 44 cents, to reach a settlement of 75.47 dollars a barrel. The contract of January was descended 91 cents, to close at 75.04 dollars a barrel.

According to Reuters, the futures of the US median West Texas crude declined 87 cents, reaching a settlement of 65.31 dollars a barrel.

The two standard ores are less than ten dollars above their four-year highs, which they reached on October 3.

The two have scored the worst monthly performance since July 2016, with Brent down 8.8 percent over the month, while the US crude fell 10.9 percent.