Oil prices aim for a weekly loss of more than 5% after the Blitz and OPEC+US President's Tariff schemes Trump and OPEC+for a more than expected supply walk in May should bear the market.
Raw benchmarks extended the losses of the previous session, with Brent down 1.9% to $ 68.77 per barrel and WTI collapsed 2.1% to $ 65.55 per barrel.
“Weakness appears in longer future contracts,” analysts wrote in the BMI Fitch's research unit. “The six -month and 12 -month spreads have suddenly contracted.”