Energy Prices Retreated as Oversupply remains Worrisome

Energy prices declined on profit-taking. The front-month WTI crude contract dropped -3.03% and settled at 47.05, the lowest close in 3 days, while the Brent contract lost -3.38% and settled at 49.16, the lowest close since August 15. Besides taking profit following the strong rally over the past weeks, supply remains a concern.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/energy-prices-retreated-as-oversupply-remains-worrisome-2016082333464/