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Oil prices fall 1% with Wall Street on trade war, give back early gains

Oil was pressured by a slump in stocks and other risk assets as investors moved into safe havens like Treasury bonds in response to the intensifying US-China trade war

Oil Price  |  Crude Oil  |  Wall Street

Reuters  |  New York 

Oil futures fell more than 1% on Monday with Wall Street, as the negative turn in the US-Chinese trade talks spooked investors, who had sent oil higher in early trade on concerns that tanker attacks in the Middle East could disrupt supplies. Brent crude futures were down 77 cents at $69.85 a barrel, a 1.1 percent drop, by 1:04 p.m. EDT (1704 GMT). The global benchmark earlier hit a session high of $72.58 a barrel. US West Texas Intermediate (WTI) crude futures fell 88 cents to $60.78 a barrel, a 1.4 percent decline, after previously hitting $63.33 a barrel. Oil was pressured by ...

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First Published: Mon, May 13 2019. 23:04 IST