“Looks like OPEC is at it again. With record amounts of oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!” Trump said on Twitter.
The foregoing tweet by the U.S. President Donald Trump was enough to shake down the price of oil which has been rising over the last few months.
OPEC and some other oil-producing countries have been cutting back on production with the view of pushing up prices.
The main crude oil benchmark prices, Brent and West Texas Intermediate (WTI), fell around one percent after Trump’s tweet.
U.S. West Texas Intermediate crude oil prices were up four cents at $68.37 a barrel, after dropping as low as $67.50 after Trump’s tweet.
International benchmark Brent crude was at $73.72, down six cents and off a session low of $72.83.
Yvad Billings Readers Bureau, Fellow
Edited by Jesus Chan
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