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Oil Ends Down a Second Straight Session on Trade Worries, Recession Fears


Friday, 16 August 2019 02:43 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil futures ended lower Thursday for a second consecutive session, as U.S.-China trade tensions continue to feed worries about a global economic slowdown that could weigh on demand.

Prices for natural gas, meanwhile, settled sharply higher—at their highest month to date—on the back of a smaller-than-forecast weekly rise in U.S. supplies of the fuel, as warmer weather forecasts buoyed demand prospects for the fuel.

Against that backdrop, West Texas Intermediate crude for September delivery fell 76 cents, or 1.4%, to settle at $54.47 a barrel on the New York Mercantile Exchange, after trading as low as $53.77. U.S. benchmark prices fell 3.3% on Wednesday. October Brent crude lost $1.25, or 2.1%, to $58.23 a barrel on ICE Futures Europe Thursday.

Source : Marketwatch


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