Oil continues to fall from its peak in 2019, weighed down by concerns about demand

File Reuters

UNITED STATES (VOP TODAY NEWS) — Oil prices fell nearly 2 percent on Friday, continuing to slide from their highest levels this year as the focus shifted to a lack of progress in US-China trade talks and gloomy data from Germany and the United States on factory activity sparked renewed fears of a slowdown in the economy. Global and crude demand.

US stocks fell 2 percent on Friday after manufacturers in America, Europe and Japan suffered in March with surveys showing that trade tensions had an impact on factory output, May begin to improve.

Brent crude fell 83 cents, or 1.22 percent, to settle at $ 67.03 a barrel, ending the week down 0.2 percent.

On Thursday, Brent crude hit a four-month high of $ 68.69 a barrel.

Brent has risen more than 20 percent since the start of January, thanks to cuts in supplies from the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, and US sanctions on Iran and Venezuela.

US WTI crude fell 94 cents, or 1.6 percent, to settle at $ 59.04 a barrel.

In Thursday’s session, US crude hit its highest level in 2019 at $ 60.39, ending the week with gains of 0.8 percent.

The US dollar jumped on Friday to a one-week high against a basket of major currencies. A rising dollar would make oil more expensive for holders of other currencies.

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