At the same time, Brent crude oil futures for ICE month closed down 0.64 USD, or 0.92%, to 68.83 USD/barrel.
The trade war is worried that suppressing US stocks will benefit investors.
US President Trump announced on Thursday that he would impose tariffs on China's $50 billion goods, raising concerns about the increased risk of a global trade war.
Phil and Flynn, senior market analysts of price futures, said that concerns about the trade war dropped sharply on Thursday, and some investors continued to attract interest in crude oil futures.
Oil prices have risen by nearly 65,438+00% in the past two weeks, boosted by the weakening of the US dollar and the tense relationship between Iran and Saudi Arabia, which has triggered concerns about oil supply in the Middle East.
The unexpected drop in US crude oil inventories on Wednesday caused oil prices to rise to the biggest one-day increase since last year 165438+ 10.
Olson, senior manager of Shengbao, said that oil prices have recovered and investors expect oil prices to rise further. But I think it's still too early. Today's decline is just a test. The important resistance of crude oil contract in May was less than 0.5 USD, and some investors chose to take profits.
The oil derivatives market shows that most of the activities in the past week focused on buying options, so-called price increase options, so it is possible for owners to buy oil at a specific price on a specific date.