Singapore : Oil prices dipped on concerns that the trade war between the United States and China could intensify, although looming U.S. sanctions against Iran´s oil exports and falling Venezuelan output prevented bigger falls.
International Brent crude oil futures were at $77.64 per barrel at 0654 GMT, down 13 cents from their last close.
U.S. West Texas Intermediate (WTI) crude futures were unchanged at $70.25 a barrel.
Analysts cautioned that trade disputes between the United States and other major economies, especially China and the European Union, could start to drag on economic growth and, by extension, fuel demand.
"You have to wonder if it (crude) can sustain these prices in a world where President Trump doubles down on his battle with the EU and China at the same time," said Greg McKenna, chief market strategist at futures brokerage AxiTrader.
Several solar panels can be seen in this picture. — AFP/FileLAHORE: Pakistan, with a potential of 40 GW of solar...
The screenshot shows the High Commission of Pakistan in Rwanda hosting a webinar on "Exploring the African Market -...
An undated image of gold jewellery displayed at a store. — AFP/FileKARACHI: Gold prices in the local market dropped...
Clare Lombardelli, the OECD’s chief economist. — BloombergLONDON: High flows of immigration into rich countries...
Representational image of growth in economy. — APP FileLAHORE: The normal ingredients of economic growth include...
The logo of Russia's energy giant Gazprom is pictured at one of its petrol stations in Moscow on May 11, 2022. —...
