Oil is extending its record losing streak to a 12th day

pulse

November 13, 2018 5:16 PM

Oil prices fell for a 12th straight day Tuesday — the longest losing streak on record.

An unidentified oil worker walks in front of a natural gas flame burning off in the Persian Gulf desert oil field of Sakhir, Bahrain.

President Donald Trump has recently pushed back against Saudi Arabia's plans to increase production.
Last week, US production hit a record 11.6 million barrels per day.

Oil prices fell for a 12th straight session Tuesday, the longest streak on record, after President Donald Trump pushed back against Saudi Arabia's plan to increase its output.

West Texas Intermediate crude oil, the US benchmark, and Brent crude oil, the international benchmark, were both down by about 4.3%, at $56.36 and $65.92 a barrel.