Crude Oil, Refined Products Prices Down Double-digits for Second Year
03.01.2016

Crude Oil, Refined Products Prices Down Double-digits for Second Year

Crude Oil, Refined Products Prices Down Double-digits for Second Year

Futures of crude oil and key U.S. refined oil products on Thursday ended down double-digits for a second straight year as a global supply glut weighed on the industry.

Futures of Brent, the global crude benchmark, settled down 35 percent on the year at $37.28 a barrel, extending a 48 percent drop in 2014.

U.S. crude's West Texas Intermediate (WTI) futures closed the year down 30 percent at $37.04 a barrel, after a 46 percent decline the previous year.

U.S. gasoline futures finished down 12 percent for the year at $1.2671 a gallon, after a 48 percent slump in 2014.

U.S. heating oil futures ended down 40 percent for a second year in a row, settling at $1.1007 a gallon.

Source: www.reuters.com

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