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Oil prices slide as demand outlook suffers- Check out Brent crude this morning
Since the last update here on the oil markets prices have taken a hit and that has seen both Brent and WTI fall sharply following the lower demand outlook delivered by US tariffs. That has seen Brent prices fall below $70. We are now trading the May contract on the platform and that slumped to a low yesterday at $68.33, just after the 4pm London FX fix. Brent later rebounded off that low, but still settled $1.74 lower on the NYMEX exchange last night, at $69.30. The price action so far today has seen it push a little higher earlier, reaching $69.85, but as you can see, the $70 per barrel handle remains a level yet to be re-tested. The low seen earlier this morning was set at $69.42. Brent for May delivery is currently trading at $69.52
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