Crude prices plunged in a late session selloff to settle at 2018 lows Tuesday amid growing oversupply concerns. Receive daily email alerts, subscriber notes & personalize your experience. Register Now ICE February Brent shed $3.35 to settle at $56.26/b and NYMEX January WTI fell $3.64 at $46.24/b. Brent’s settle was the lowest for a prompt month since October 2017 while the front-month WTI contract has not closed this low since August 2017. “The market has been under pressure now for two days,” Tradition Energy analyst Gene McGillian said, adding it is “worried about slowing demand growth and excess supplies and we are still searching for the bottom.” Rising US output forecasts and indications that Russia may be slow to implement its portion of the latest OPEC and non-OPEC producer cuts is adding to oversupply concerns. On Monday, a US Energy Information Administration report showed domestic shale […]