WTI and Brent had hit two-week lows on Wednesday after China proposed a broad range of tariffs on U.S. exports, feeding fears of a trade war.
"Equities have been the most significant external driver for the short-term price direction of oil, with the significant volatility coming (partly) from the perception of a trade war", said Dominic Chirichella, senior partner at the Energy Management Institute in NY.
Crude oil futures fell sharply Friday along with United States stocks.
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In a Thursday morning tweet, the president credits "the strong immigration laws of Mexico and their willingness to use them". The Pentagon said officials had not yet determined how many troops would be deployed to support border security operations.
Futures in NY slipped as much as 2.1 percent to the lowest intraday price since March 20.
Over the past four weeks, motor gasoline product supplied averaged about 9.3 million barrels per day, up by 0.4 percent from the same period previous year.
U.S. West Texas Intermediate crude for May delivery was up 20 cents, or 0.3 percent, at $63.57 a barrel by 0646 GMT after settling down 14 cents.
Global equities sank after China unveiled its charges, which match the scale of proposed USA tariffs announced earlier this week and ratchets up tension in a brewing trade war between the world's two largest economies. That would be the biggest drop since January if confirmed by the Energy Information Administration's data on Wednesday.
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Danve said arrangements have been made to bring the party workers to Mumbai in trains, buses and jeeps. The Congress has been uprooted in 11 states, and the BJP has been winning all elections since.
"We're seeing the reaction across the board. crude oil is keeping an eye on stocks and with S&P (futures) down. we're seeing renewed weakness ahead of the EIA this afternoon", Saxo Bank head of commodities strategy Ole Hansen said. Oil prices have recently closely tracked equities. The extent to which it counterbalance output cuts from the Organization of the Petroleum Exporting Countries (OPEC) will be critical, said Gene McGillian, manager of market research at Tradition Energy in Stamford.
Before the rebound late on Wednesday, after the release of the Energy Information Administration (EIA) inventory data, WTI and Brent had hit two-week lows after China proposed a broad range of tariffs on US exports, feeding fears of a trade war.
Though this was largely thanks to the inexorable slide in Venezuela's oil production, figures are figures and the market is prone to take them at face value.
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Wednesday's increase was the Fed's first major decision since Jerome Powell replaced Janet Yellen as its chair. "In theory, a individual tax bill that lowers tax rates should encourage more labor force participation".