Oil prices head for a second weekly drop on surplus worries
In short
Oil prices are heading for a second weekly fall in a row because traders see more supply building up.
That matters because a bigger surplus can keep prices under pressure for oil producers and energy markets.
What the reporting says
Oil prices are set for a second straight weekly decline as signs of a growing supply surplus weigh on the market. The move reflects trader concern that supply is outpacing demand.
Why it matters
Oil prices are set for a second straight weekly decline as growing signs of a supply surplus pressure the market. The story matters for oil producers, refiners and energy traders because oversupply can weaken crude benchmarks.