Oil falls after Trump’s comments douse trade talk optimism
Oil prices fell for a second day on Wednesday on worries about falling fuel demand after US President Donald Trump’s comments doused optimism over China-US trade talks and reignited concerns on global economic growth.
Brent crude futures fell 46 cents to $62.64 a barrel by 0104 GMT, while US West Texas Intermediate crude dropped to $56.89, down 40 cents. Both prices have fallen to their lowest since before the attack on Saudi Arabian oil facilities on Sept. 14.
“What really pulled the rug from underneath oil was Donald Trump’s comments on trade last night…. He’s still maintaining quite a belligerent position,” said Jeffrey Halley, senior market analyst for Asia Pacific at OANDA.
