Oil prices fall as supply fears ease
Oil prices declined as geopolitical tensions in the Middle East eased following comments from President Donald Trump regarding Iran. Additionally, China's decision to resume refined fuel exports contributed to the downward pressure on global oil markets.
Why it matters
Fluctuations in oil prices significantly impact global inflation, transportation costs, and energy market stability.
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facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> Oil prices fall as supply fears ease HOUSTON: Oil prices fell on Friday as Middle East supply concerns eased after President Donald Trump said the US would not attack Iran before midterm elections next month and talked of "productive" talks to end their war that has disrupted global energy markets.
Trump also teased an upcoming, undisclosed announcement on diesel and said he was considering suspending the federal gasoline tax. Brent crude futures slid 52 cents, 0.50%, to $103.76 a barrel by 12:11 am CDT (1811 GMT). US West Texas Intermediate crude futures fell 22 cents, or 0.2%, to $91.28.
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