Oil losses accelerate, Brent crude oil drops below $70 a barrel | Financial Times

Oil losses accelerate, Brent crude oil drops below $70 a barrel | Financial Times:

Brent crude oil dropped below $70 a barrel on Thursday, taking losses over the last two sessions to more than 3 per cent as traders weighed the risks from a US-China trade war and rising inventories in the US.


Brent was down 1.7 per cent in late-morning trading in London to $69.77 a barrel, while US marker West Texas Intermediate lost a similar amount to trade at $60.35 a barrel.

The sell-off weighed on oil companies traded in London, with BP and Royal Dutch Shell both losing 2.2 per cent, while midsized oil and gas explorers were some of the biggest fallers on the FTSE All-Share index.