Oil dips amid trade worries, Opec expectations cut more support
Seoul: Oil prices fell on Friday amid fears over demand as the US-China trade row casts its shadow over markets, although prices got some support from expectations of more OPEC production cuts.
International benchmark Brent crude futures, were at $57.20 a barrel by 0324 GMT, down 18 cents, or 0.3%, from their previous settlement.
The US West Texas Intermediate (WTI) futures were at $52.45 per barrel, down 9 cents, or 0.2%, from their last close.
Both contracts jumped more than 2% on Thursday to recover from January lows, buoyed by reports that Saudi Arabia, the world’s biggest oil exporter, had called other producers to discuss the recent slide in crude prices.
