Oil prices rise despite Trump's criticism | 2018-04-21 | daily-sun.com

Oil prices rise despite Trump's criticism

BSS/XINHUA     21st April, 2018 07:14:31 printer

Oil prices rise despite Trump's criticism

Oil prices climbed on Friday as investors shrugged off U.S. President Donald Trump's criticism of high oil prices. 

The market was under pressure in the early session on Friday after Trump suggested in a twitter that OPEC (Organization of the Petroleum Exporting Countries) is keeping oil prices artificially high. 

U.S. oil price went down nearly 1.2 percent to as low as 67.50 U.S. dollars a barrel following his comments before recovering in late trading. 

Earlier this week, both U.S. and Brent oil prices hit more than three-year highs, as geopolitical tensions and falling U.S. crude stockpiles supported the market. 

The West Texas Intermediate (WTI) for May delivery added 0.09 U.S. dollar to settle at 68.38 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery climbed 0.28 dollar to close at 74.06 dollars a barrel on the London ICE Futures Exchange.