Oil Prices Fall on U.S.-China Trade Spat, But Settle Off Lows U.S.-Iran Tensions Worsen

Wednesday, 8 May 2019 02:27 WIB

Minyak WTIbrent oilOil,Crude Oil


Crude-oil prices fell Tuesday, but settled off the session’s worst levels as increasing tensions between the U.S. and Iran and the threat of disruptions to supplies in the Middle East helped to offset worries that a protracted trade conflict between the U.S. and China will hurt energy demand.

The U.S. will deploy four B-52 bombers to the Middle East, in response to what the Trump administration said are threats of a possible attack by Iran on American troops in the region, according to a report Tuesday from CBS News.

West Texas Intermediate crude for June delivery lost 85 cents, or 1.4%, to settle at $61.40 a barrel on the New York Mercantile Exchange, after touching an earlier low of $60.66. Prices posted the lowest front-month contract finish since March 29, according to Dow Jones Market Data.

Global benchmark July Brent crude dropped $1.36, or 1.9%, to finish at $69.88 a barrel, the lowest front-month contract settlement since April 4. It settled Monday up 0.6%, on ICE Futures Europe.

Source : Marketwatch


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