US Crude Prices Slip below $50 per Barrel, Still Close to Multi-Month High Records

Oil

US crude prices slipped below $50 per barrel on Monday despite a drop in shale drilling and the continuing restart of refineries after Hurricane Harvey. WTI crude futures were down by 27 cents at $49.62 at 1115 GMT but still close to Thursday’s near 4-month high of $50.50. Brent futures slipped by 33 cents at $55.29 a barrel, near Thursday’s almost 5-month high of $55.99 per barrel.