Brent crude futures were at $73.91 per barrel at 06.30am GMT (12pm IST), down 15 cents, or 0.2% from their last close. US West Texas Intermediate (WTI) crude futures were down 18 cents, or 0.3%, at $68.22 a barrel. Despite slipping on Monday, overall the oil market remains well supported, especially by strong demand in Asia. The generally elevated oil prices have also sparked a spat between US President Donald Trump and producer cartel Opec. Trump on Friday accused Opec of “artificially” boosting oil prices, threatening on Twitter that this “will not be accepted”, drawing rebukes from several of the world’s top oil exporters within Opec.

Source: Mint April 23, 2018 07:41 UTC