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Reduce pricing now, Trump tells Opec; oil market responds with a dip

Trump late said the Opec producer cartel was driving up fuel prices


Oil prices eased on Thursday after US President Donald Trump sent a tweet urging OPEC to reduce prices for crude. Brent crude futures were at $77.88 per barrel at 0053 GMT, down 36 cents, or 0.5 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were down 35 cents, or 0.5 per cent, at $73.79 per barrel. Trump late on Wednesday said the Organization of Petroleum Exporting Countries (OPEC) producer cartel was driving up fuel prices. "The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they ...

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First Published: Thu, July 05 2018. 08:44 IST