Oil feels the heat as trade war weighs on sentiment
Money managers cut their net long US crude futures and options positions
27 May 2019 - 08:57
Singapore — Oil prices were under pressure on Monday following their biggest drops in 2019 the week before, as concerns the Sino-US trade war could trigger a broad economic slowdown dragged, although Opec’s supply cuts provided some support. US West Texas Intermediate (WTI) crude futures were at $58.42 per barrel at 4.12am GMT (6.12am SA time), down 21c, or 0.4%, from their last settlement. Front-month Brent crude futures, the international benchmark for oil prices were firmer, at $68.73 per barrel, 4c above their last close.
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