[–] derram 0 points 0 points (+0|-0) ago 

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Oil prices slide 2 percent more, U.S. crude below $50 | Reuters

'REUTERS/Edgar Su/File PhotoU.S. crude prices fell through the $50 a barrel support level, with market participants unwinding a massive number of bullish wagers they had amassed after a deal by top global oil producers to limit output. '

'This week, Saudi Oil Minister Khalid al-Falih said oil market fundamentals were improving but OPEC would not let rival producers take advantage of the cuts. ', "On Wednesday, crude tumbled more than 5 percent, its steepest dive in a year, after data showed crude oil stocks in the United States, the world's top oil consumer, swelled by 8.2 million barrels last week to a record 528.4 million barrels, well above forecasts of a 2 million barrel build."

'OPEC hopes it can persuade other oil producers to make deeper cuts to try to push up prices that have been slumping for more than two years. '

'Brent crude LCOc1 fell $1.19 a barrel, or 2.2 percent, to $51.92 by 11:37 a.m. '

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