U.S. prices settled lower Tuesday as U.S.-China trade woes weighed on energy-demand prospects. However, Middle East tensions provided some support for the global benchmark.
West Texas Intermediate crude for June delivery lost 11 cents, or 0.2%, to settle at $62.99 a barrel on the New York Mercantile Exchange. WTI settled at $63.10 Monday, the highest finish for a front-month contract since May 1, according to Dow Jones Market Data. The June contract expired at the day’s settlement. The new front-month July WTI oil contract fell 8 cents, or 0.1%, to $63.13.
Global benchmark July Brent meanwhile, added 21 cents, or 0.3%, to $72.18 a barrel on ICE Futures Europe following two consecutive declines.
Source : MarketWatch