Oil falls over 3% on fresh trade worries, posts biggest monthly drop in six months - Reuters

Oil falls over 3% on fresh trade worries, posts biggest monthly drop in six months - Reuters:

Oil slumped over 3% on Friday and posted its biggest monthly drop in six months, after U.S. President Donald Trump stoked global trade tensions by threatening tariffs on Mexico, a key U.S. trade partner and major supplier of crude oil.

Brent crude futures fell $2.38, or 3.6%, to settle at $64.49 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $3.09 to $53.50 a barrel, a 5.5% loss.

Brent touched a session low of $64.37 a barrel, lowest since March 8. WTI hit $53.41 a barrel, weakest since Feb. 14.

Brent futures posted an 11% slide in May and WTI a 16% drop, their biggest monthly losses since November.