Crude futures lower on diminishing supply fears, bearish outlook

S&P Global Platts | Jun 14, 2019 at 12:12 PM
  • Crude oil futures fell back slightly Friday following the market’s bullish reaction Thursday to the attacks on two oil tankers near the Strait of Hormuz, amid diminishing supply concerns and a weak global outlook.
  • Elsewhere, concerns about growing US inventories continued to crimp oil prices Friday.
  • In its latest report, the International Energy Agency cut its estimate for global oil demand growth in 2019 for a second consecutive month.