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Potential demand weakness, Trump tweet push WTI down 2.5%



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The WTI front-month contract fell $1.46, or 2.5%, last week to settle at $55.80/bbl last Friday. Negative US demand data and comments by US President Donald Trump pushed prices lower despite a very bullish inventory report and a confirmation from Saudi Arabia on its commitment to 2019 supply cuts. On Monday, Feb. 25, WTI dropped $1.78 to $55.48/bbl in the aftermath of a presidential tweet. During the morning, President Trump wrote, “Oil prices getting too high. OPEC, please relax and take......
 
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