Oil prices rose on Thursday after an industry report showed a bigger-than-expect...
TOKYO/SINGAPORE - Oil prices rose on Thursday after an industry report showed a bigger-than-expected decline in U.S. crude inventories, although concerns that the U.S.-China trade war will trigger an economic downturn kept a lid on gains.
Iranian May crude exports dropped to less than half of April levels at around 400,000 barrels per day , tanker data showed and two industry sources said, after the United States tightened sanctions on Tehran’s main source of income. “An escalating U.S.-China trade war represents a risk to oil markets,” Bernstein Energy said in a note on Thursday.
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