A turbulent week for global energy markets saw oil prices slide amid OPEC+ uncertainty and escalating U.S.-China tensions. The double whammy of OPEC+’s unpredictability and Donald Trump’s heated rhetoric over China ‘totally violating its agreement’ with the US put oil prices under renewed pressure, sending ICE Brent slightly below $64 per barrel with WTI balancing on the edge of the $60 per barrel threshold.
Should the weekend bring an OPEC+ surprise of a bigger-than-expected unwinding, the downslide could very well continue…Brent Slides Below $64 as Trump and OPEC+ Rattle Crude Markets
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