Oil falls after Donald Trump demands that Opec cut prices
The escalating trade row between the US and China has cast a shadow over markets, with China warning it may introduce duties on US crude imports at some time
Singapore — Oil prices fell on Thursday after US President Donald Trump sent a strident tweet demanding that oil cartel Opec cut prices for crude. The escalating trade row between Washington and Beijing also cast a shadow over markets, with China warning it could introduce duties on US crude imports at an as yet unspecified date. Brent crude futures were at $77.68 a barrel at 4.05am GMT, down 56c, or 0.7%, from their last close. US West Texas Intermediate (WTI) crude futures were down 29c, or 0.4%, at $73.85 a barrel. Trump on Wednesday accused Opec of driving up fuel prices. "The OPEC Monopoly must remember that gas prices are up & they are doing little to help," Trump wrote on his personal Twitter account. "If anything, they are driving prices higher as the United States defends many of their members for very little $’s." This must be a two way street," he wrote, adding in block capitals, "REDUCE PRICING NOW!" Opec, together with a group of non-Opec producers led by Russia, starte...
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