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Oil prices down as supply glut, trade war concerns weigh on markets

Uncertainty over the supply and demand balance of global oil markets have resulted in volatile yet range-bound recent trading

Reuters  |  Singapore 

Oil prices dipped on Tuesday, easing after strong gains in the previous session when hopes that trade disputes between the United States and China could be resolved buoyed global markets. Despite a softening of trade concerns, oil markets still face an abundance of supplies that puts pressure on producers to keep their prices competitive in order not to lose market share. U.S. WTI crude futures were at $63.26 a barrel at 0031 GMT, down 16 cents, or 0.3 percent, from their previous settlement. Brent crude futures were at $68.52 per barrel, down 13 cents, or 0.2 ...

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First Published: Tue, April 10 2018. 06:41 IST
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