Oil Loses Nearly $10 Per Barrel Since Start of April

Oil prices fell on Monday amid concerns that the escalating trade war between China and the United States could weaken global economic growth and undermine fuel demand.اضافة اعلان

As of 01:26 GMT, Brent crude futures dropped by 29 cents, or 0.45%, to $64.47 per barrel, while West Texas Intermediate (WTI) futures slipped 27 cents, or 0.44%, to $61.23 per barrel.

Both benchmarks have lost nearly $10 per barrel since the beginning of April, as trade tensions between the world’s two largest economies continue to intensify.

U.S. Energy Secretary Chris Wright stated on Sunday that average oil prices are expected to decline over the next four years under the Trump administration.

— (Reuters)