Oil futures gained on Wednesday, boosted by a surprise drawdown in US crude stockpiles, but an escalating US-Chinese trade fight limited oil’s gains as investors worried about the global outlook for energy demand. Brent crude futures rose 44 cents to $70.32 a barrel, while West Texas Intermediate (WTI) crude futures rose 57 cents to $61.97 […]
US crude
Oil hits 2019 high on OPEC cuts, concerns over demand ease
Oil hit a 2019 high above $69 a barrel on Tuesday on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut, and as the market became less worried that demand may slow. The United States is considering more sanctions against Iran, whose oil exports have been halved […]