Oil Flat as Markets Assess Effects of Trade War

Oil Flat as Markets Assess Effects of Trade War

Singapore, April 16 (QNA) – Oil prices were flat early on Wednesday, as shifting US trade policies fuelled uncertainty while markets assessed the potential impact of the US-China trade war on economic growth and energy demand.

Flat Brent crude futures rose 5 cents, or 0.1%, to $64.72 per barrel, while US West Texas Intermediate crude was up 3 cents, or 0.1%, to $61.36.

Both benchmarks fell 0.3% on Tuesday.

Meanwhile, US crude oil stocks rose 2.4 million barrels in the week ended April 11, while gasoline inventories fell 3 million barrels and distillate stocks dropped 3.2 million barrels, market sources said, citing American Petroleum Institute figures on Tuesday. (QNA)

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