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Oil prices slump as Trump deems prices "too high"

  • Regular
  • FX Market
  • 2 months ago
  • 40

Oil prices fell by 3% following Trump’s message to OPEC expressing that prices are too high.

Trump tweeted, "Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike - fragile!"

This comes two months after the agreement set by OPEC in Vienna to cut production from the OPEC nations and its allies, which will be surely the hot topic when the organization meets again in April.

U.S. WTI futures traded lower by 3.1% at $ 55.48 per barrel while Brent crude slumped by 3.5% to $67.73.

 

 

Source: Smart Trend Team