Oil Drops After Trump Criticizes OPEC

According to Reuters, Oil futures fell 3 percent on Monday after President Donald Trump called for OPEC to “relax and take it easy” on bolstering crude prices. The president went on to say that he believed the prices were climbing too high. President Trump tweeted “Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike - fragile!”. This tweet is his latest in a series of comments he has made regarding oil prices since April 2018. The Brent crude oil futures fell to $2.03 at $65.09 a barrel by 11:20 a.m. EST, while West Texas Intermediate crude futures fell $1.73 to $55.53 a barrel.


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