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Oil Ends Up as Concerns Over U.S.-China Trade Talks Ease, Middle East tensions Rise
Tuesday, 7 May 2019 03:21 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Crude-oil prices turned higher by Monday™s settlement, as concerns surrounding U.S.-China trade talks eased and tensions in the Middle East climbed.

Taking investors by surprise early Sunday, Trump threatened in a tweet to raise tariffs on $200 billion of Chinese goods this week to 25% from 10%, citing frustration over the pace of trade talks. Before Trump™s tweet, there had been speculation that a deal could be reached as soon as Friday.

On Monday, West Texas Intermediate crude for June delivery added 31 cents, or 0.5%, to settle at $62.25 a barrel, giving up earlier losses that had pushed prices to as low as $60.04. Prices had settled up 0.2% on Friday, though marked a second consecutive weekly decline.

Global benchmark July Brent crude rose 39 cents, or 0.6%, to settle at $71.24 a barrel on ICE Futures Europe, after tapping a low of $68.79. Front-month prices lost 1.1% last week.

Source : Marketwatch

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