Crude prices fall back to pre-OPEC cut levels on oversupply worries

摘要

SINGAPORE (ICIS)--Crude futures fell back on Friday morning to their lowest level since late November prior to the OPEC-led production cuts amid heightened oversupply concerns. At 08:21 GMT on Friday, front month July ICE Brent crude futures were trading at $47.90/bbl, down $0.48/bbl on the previous session after earlier falling to an intraday low of $46.64/bbl, the lowest level since 30 November 2016.