Oil drops 1%, set for biggest monthly fall since November as trade wars spreads - Reuters

Oil drops 1%, set for biggest monthly fall since November as trade wars spreads - Reuters:

Oil prices fell by more than 1% on Friday and were on track for their biggest monthly fall since November as trade conflicts spread and U.S. crude output returned to record levels.

Front-month Brent crude futures, the international benchmark for oil prices, were at $65.97 at 0639 GMT, down by 90 cents, or 1.4%, from last session’s close.

U.S. West Texas Intermediate (WTI) crude futures were at $55.92 per barrel, down 67 cents, or 1.2%, from their last settlement. WTI earlier marked its lowest since March 8 at $55.66 a barrel.