West Texas Intermediate (WTI) crude for June delivery traded 25 cents lower at $70.45 a barrel on the New York Mercantile Exchange at 11.30am in Singapore. Meanwhile, Iran called for clarity over its nuclear deal with world powers, following US President Donald Trump’s withdrawal from the 2015 pact. Brent for July settlement slipped 38 cents to $76.74 a barrel on the London-based ICE Futures Europe exchange. The global benchmark crude traded at a $6.31 premium to July WTI. The two parties didn’t disclose whether the world’s biggest crude importer will scale back purchases in light of the renewed sanctions.

Source: Mint May 14, 2018 06:00 UTC