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Oil prices tumble as Donald Trump dials Opec to lower gasoline prices

Futures in New York fell as much as 4.5 per cent on Friday, wiping away gains from earlier in the week that had followed the US' vow of tougher sanctions on Iran

Interim Budget 2019: FM has cheap crude oil to thank for his fiscal record
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Alex Nussbaum & Alex Longley | Bloomberg New York/London
Oil prices fell the most since December as US President Donald Trump pressed Opec to lower prices, and doubts grew about the impact of supply squeezes from Russia and Iran.

Futures in New York fell as much as 4.5 per cent on Friday, wiping away gains from earlier in the week that had followed the US’ vow of tougher sanctions on Iran. Trump, speaking at the White House, said he’d called the producer cartel and demanded it reduce gasoline prices. Reports of readily available replacements for contaminated Russian oil also sapped momentum.

Crude hit a 6-month high this

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First Published: Apr 27 2019 | 2:18 AM IST

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