Oil under pressure as US-China trade war weighs, but Opec cuts still support


Oil under pressure as US-China trade war weighs, but Opec cuts still support

Oil prices were under pressure on Monday following their biggest drops this year the week before, as concerns the Sino-US trade war could trigger a broad economic slowdown dragged, although Opec’s supply cuts provided some support.

US West Texas Intermediate (WTI) crude futures were at US$58.42 per barrel at 0412 GMT, down 21 cents, or 0.4 per cent, from their last settlement.

Front-month Brent crude futures, the international benchmark for oil prices were firmer, at US$68.73 per barrel, 4 cents above their last close. Read More

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