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        The support provided by the US-Iraq dispute offsets trade concerns


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U.S. crude oil futures stabilized on Tuesday as rising tensions between the United States and Iraq disrupted supply expectations, offsetting concerns that a prolonged trade war between Washington and Beijing would limit demand for crude oil.
Brent crude oil futures closed at $72.18 a barrel, up $0.21. U.S. crude oil futures closed at $62.99 a barrel, down $0.11. The contract expires on Tuesday in June. The July contract closed at $63.13 a barrel.
"The situation with China is weak and that with Iran is strong, both of which are equally powerful. That's why I think we're going to remain stuck at the current level, "said John Kilduff, partner of Again Capital.
U.S. President Trump threatened Iran Monday to use "strong force" if Iran attacks U.S. interests in the Middle East.
On Tuesday, Acting Secretary of Defense Shanahan said that although the threat from Iran remains high, deterrence measures taken by the Pentagon have "curbed" the possibility of attacks on Americans. He did not provide details.
Iran says it will withstand U.S. pressure and refuse to negotiate further under the current circumstances.
As the Organization of Petroleum Exporting Countries (OPEC), Russia and other oil-producing countries began to reduce production for six months at the beginning of this year to support oil prices, the tight supply situation in the oil market has worsened.


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