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Oil Prices Fall on U.S.-China Trade Spat, But Settle Off Lows U.S.-Iran Tensions Worsen
Wednesday, 8 May 2019 02:27 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Crude-oil prices fell Tuesday, but settled off the session™s worst levels as increasing tensions between the U.S. and Iran and the threat of disruptions to supplies in the Middle East helped to offset worries that a protracted trade conflict between the U.S. and China will hurt energy demand.

The U.S. will deploy four B-52 bombers to the Middle East, in response to what the Trump administration said are threats of a possible attack by Iran on American troops in the region, according to a report Tuesday from CBS News.

West Texas Intermediate crude for June delivery lost 85 cents, or 1.4%, to settle at $61.40 a barrel on the New York Mercantile Exchange, after touching an earlier low of $60.66. Prices posted the lowest front-month contract finish since March 29, according to Dow Jones Market Data.

Global benchmark July Brent crude dropped $1.36, or 1.9%, to finish at $69.88 a barrel, the lowest front-month contract settlement since April 4. It settled Monday up 0.6%, on ICE Futures Europe.

Source : Marketwatch

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