Oil Prices Decline After Trump Demands Lower Prices

By Anonymous

President criticizes OPEC for not doing enough to keep prices lower

Oil prices fell from two-month highs Thursday after President Trump said oil prices have been rising too much, and urged major oil producers in the Middle East to find a way to get them lower.

Light, sweet crude for October delivery ended 0.4% lower at $70.80 a barrel on the New York Mercantile Exchange. On Wednesday, the U.S. benchmark had settled at $71.12 a barrel, its highest closing level since July 10. Brent crude, the global benchmark, fell 0.9% Thursday to $78.70 a barrel.