Oil drops as trade war concerns outweigh supply disruptions
Updated : May 29, 2019 11:21 AM IST
Front-month Brent crude futures, the international benchmark for oil prices, were at $69.60 a barrel at 0332 GMT, down 51 cents, or 0.7 percent, from the last session's close.
US West Texas Intermediate (WTI) crude futures were at $58.50 per barrel, down 64 cents, or 1.1 percent, from their last settlement.
Despite the economic concerns, global oil demand is so far holding up well, likely averaging over 100 million barrels per day (bpd) this year for the first time, according to data from the US Energy Information Administration (EIA).