Oil prices rebound from one-month low after Trump's tariff threat
By Trend
Oil futures edged higher in volatile trade on Monday as rising tensions between the United States and Iran buoyed prices, which earlier touched a one-month low after U.S. President Donald Trump said he may raise tariffs on Chinese goods, Trend reports citing Reuters.
Brent crude futures rose 54 cents to $71.39 a barrel as of 1:42 p.m. EDT (1742 GMT). The global benchmark earlier sank to $68.79 a barrel, its lowest since April 2.
U.S. West Texas Intermediate (WTI) crude futures rose 50 cents to $62.44 a barrel. WTI’s session low was $60.04 a barrel, the weakest since March 29.
Additional buying was sparked after WTI broke through $62 a barrel in early afternoon trade, said Bob Yawger, director of energy futures at Mizuho in New York.
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