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Oil Prices Drop Amid Demand Concerns


Tuesday, 13 August 2019 13:06 WIB

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Oil prices dropped on Tuesday in Asia mid continued worries on demand.

U.S. Crude Oil WTI Futures were down 0.2% to $54.84 by 12:47 AM ET (04:47 GMT). International Brent Oil Futures also dropped 0.2% to $58.45.

Oil prices received support late last week amid reports that Saudi Arabia would not tolerate the current decline in prices and was considering all options to deal with it.

Despite the gains, crude prices still ended 2% lower last week and plunged more than 6% so far in August amid concerns surrounding the escalating U.S.-China trade war that could potentially dent oil demand.

Source : Investing.com


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