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Oil Prices Down on Swelling U.S. Stockpiles, Demand Concerns


Wednesday, 22 May 2019 19:33 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and on demand concerns linked to a protracted trade war between China and the United States.

However, analysts said oil markets remained tight amid supply cuts by producer group OPEC and allies such as Russia, and as political tension escalates in the Middle East.

Brent crude futures were down 17 cents at $72.01 a barrel by 1130 GMT.U.S. West Texas Intermediate (WTI) crude futures for July delivery were down 46 cents at $62.67.

In a trade war between China and the United States, no further talks between top officials have been scheduled since the last round ended in a stalemate on May 10.

Source : Reuters


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