Trump Comments On Trade Deal Causes Oil To Drop – 24 September, 2019

Oil prices fell to a ten day low after U.S. President Donald Trump reinforced fears over trade conflicts between the U.S. and China. International Brent crude futures dropped 2.6% to $63.10 per barrel, $1.67 cents lower than the previous session. U.S. West Texas Intermediate crude futures were down 2.3% or $1.35 to $57.29 per barrel. Lower than expected economic data in Japan and Europe weighed on the price drop, with consumer data in the U.S. also down. President Trump’s comments on the trade war left many with the impression that he would not make the process of coming to an agreement easy.