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Oil falls as U.S.-China trade war weighs, but OPEC cuts underpin prices


Monday, 27 May 2019 13:57 WIB

Minyak WTIMinyak MentahMinyak Brent


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Oil prices fell on Monday, extending losses from last week when crude dropped the most this year on concerns the Sino-U.S. trade war could trigger a broad economic slowdown, although OPEC's supply cuts provided some support.

U.S. West Texas Intermediate (WTI) crude futures were at $58.24 per barrel at 05:41 GMT, down 39 cents, or 0.7%, from their last settlement.

Front-month Brent crude futures, the international benchmark for oil prices, were at $68.58 per barrel, 11 cents, or 0.2%, below their last close.

Both crude contracts last week registered their biggest price declines this year amid concerns that the U.S.-China trade dispute could accelerate an international economic slowdown.

Source : Reuters


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