Oil prices fall as trade war worries outweigh supply disruptions - Reuters

Oil prices fall as trade war worries outweigh supply disruptions - Reuters:

Oil prices fell in volatile trade on Wednesday, weighed down by equity markets as China signaled readiness to escalate the trade war with the United States, stoking concerns that an ongoing stand-off could hurt demand.

Supply constraints linked to the Organization of the Petroleum Exporting Countries’ output cuts and political tensions in the Middle East offered some support, however.

Brent crude futures, the international benchmark for oil prices, ended the session at $69.45 a barrel, down 66 cents, or 0.9%, having hit a session low of $68.08.

U.S. West Texas Intermediate (WTI) crude futures fell 33 cents, or 0.6%, to settle at $58.81 per barrel, after hitting a low of $56.88, the lowest since March 12.