Oil Turns Lower After Trump Demands Lower Prices

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Investing.com – Crude prices turned lower on Thursday, after U.S. President Donald Trump took another swipe at global oil producers.

U.S. crude was down 0.1% at $70.69 a barrel at 8:25 AM ET (12:25 GMT), pulling back from a ten-week high of $71.34 touched earlier.

Meanwhile, global benchmark Brent crude was down by 0.5% at $78.97.

Trump tweeted that the Organization of the Petroleum Exporting Countries (OPEC) needs to keep crude prices lower because of the military protection the U.S. provides for the region.

“The OPEC monopoly must get prices down now,” Trump said in the message

Read more at : https://www.investing.com/news/commodities-news/oil-turns-lower-after-trump-demands-lower-prices-1617484

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