Oil prices fall on doubts over output cuts, surging U.S. diesel inventories

CNBC | il prices dropped on Thursday, reversing gains in the previous session, on concern over whether major crude producers will be able to agree to extend record output cuts, heightened by worries over a huge build in U.S. distillate inventories.


Brent crude futures fell 1.46%, or 58 cents, to $39.21 a barrel as of 0459 GMT, while U.S. West Texas Intermediate (WTI) crude futures slid 1.98%, or 74 cents, to $36.55 a barrel.


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