Oil fell by more than 2% on Monday, pressured by a rise in Russian production, expectations that Saudi Arabia will cut prices of the crude it sends to Asia and a deepening trade spat between China and the United States.
Brent crude fell $1.70, or 2.5%, to settle at $67.64 a barrel. That was the lowest level since 21-Mar'18. U.S. crude lost $1.93, or 3%, to settle at $63.01, its lowest since 20-Mar'18.
Saudi Arabia was expected to cut prices for all crude grades it sells to Asia in May to reflect…
Brent crude fell $1.70, or 2.5%, to settle at $67.64 a barrel. That was the lowest level since 21-Mar'18. U.S. crude lost $1.93, or 3%, to settle at $63.01, its lowest since 20-Mar'18.
Saudi Arabia was expected to cut prices for all crude grades it sells to Asia in May to reflect…