Oil was little changed near $68 as investors tried to assess whether President Donald Trump will pull the U.S. from the Iran nuclear deal and reimpose sanctions on OPEC’s third largest producer.
Futures in New York lost 0.2 percent and are heading for a weekly decline of 0.4 percent. French President Emmanuel Macron earlier this week predictedAmerica will pull out of the Iran agreement, while U.S. Defense Secretary Jim Mattis said Thursday a decision on a withdrawal hasn’t been made.
West Texas Intermediate crude for June delivery traded at $68.08 on the New York Mercantile Exchange, down 11 cents, at 9:54 a.m. in Tokyo. The contract fell 30 cents this week. Total volume traded was about 76 percent below the100-day average.
Brent crude for June delivery dropped 14 cents, or 0.2 percent, to $74.60 a barrel on the London-based ICE Futures Europe exchange. Prices are up 0.7 percent for the week. The global benchmark crude traded at a $6.52 premiumto June WTI.
Source : Bloomberg