Oil prices remained weak on Wednesday, with U.S. crude below $40 per barrel and Brent under $42, as fuel oversupply and stuttering economic growth weighed on markets, although prices did receive some support from a weaker dollar.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading at $39.54 per barrel at 0651 GMT (2:51 a.m. ET), slightly above their last close and well below the $40 marker they settled below for the first time since April in the previous session.
International Brent crude futures LCOc1 failed to hold $42, trading at $41.77 per barrel.
Read More: http://www.reuters.com/article/us-global-oil-idUSKCN10E035
Source: Reuters (3 August 2016)