Prices of oil dipped today after Iran said it could partake in a slight increase of production that OPEC discusses, which might be a precursor of the coming agreement at tomorrow’s gathering.
Unfolding trade war between the U.S. and other leading economies, among which are the European Union and India, also weighed on markets. Brent futures fell 50 cents to $74.24 for a barrel compared to the last settlement.
U.S. WTI futures decreased 29 cents, sliding to $65.42 per barrel. Iran, one of OPEC’s member-states, hinted yesterday it was ready to support output rise at the June 22 meeting.