Mumbai, April 25 -- WTI crude oil prices are steadying around $62 per barrel mark on Friday morning in Asia, however setting in for a weekly loss. Oil has been on decline since President Donald Trump escalated the tariff war on China in early April, adding to concerns about the state of the global economy and a recession in the United States. However, President Trump on Wednesday said that China tariffs will come down substantially, supporting the commodity. Large US inventory draws reported by the EIA also supported oil prices to some extent. The counter is currently quoting at $62.93, up 0.24% on the day but set for a weekly loss of over 2%.
Published by HT Digital Content Services with permission from Capital Market....