Oil Prices Remain Under Pressure From Trade Tensions and Supply Overhang ...Middle East

OILPRICE - Economy
Oil Prices Remain Under Pressure From Trade Tensions and Supply Overhang
source : OILPRICE ( Middle East ) () 46
Crude oil prices remained depressed after dropping to the lowest in almost four years earlier in the week as tariffs on Mexican and Canadian imports into the U.S. went into effect on Tuesday, triggering a selloff. Reports that OPEC+ will go ahead with a planned partial rollback of its production cuts in April contributed to the bearish mood on oil markets. At the time of writing, Brent crude was trading at $69.72 per barrel and West Texas Intermediate was changing hands for $66.72 per barrel, both up from opening in Asia. “There is a bit…

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