[ad_1]
Business and Finance
Reuters
Oil prices go red after the shock
Oil prices fell on Tuesday despite concerns over the military response to attacks on oil facilities in Saudi Arabia, which halved production and caused the biggest price hike in decades.
Saturday's attack hinted at the prospect of a major market upheaval, which in recent months has been focused on demand-side concerns due to slowing global growth, as part of the trade dispute. ongoing between the United States and China.
Around 0631 GMT, Brent was down 30 cents to 68.72 dollars a barrel, while the US WTI fell 57 cents to 62.33 dollars a barrel.
Crude prices jumped nearly 20% on Monday in response to the attacks, the largest daily increase in almost 30 years, but closed up 15%.
US President Donald Trump said Monday that Iran appeared to be behind the attacks on Saudi oil facilities, but stressed that he did not want the war. Tehran rejected the charges.
Source: Reuters
[ad_2]
Source link
