Crude oil prices reversed much of the losses they suffered on Tuesday as traders sold, expecting a deal between Iran and the United States. Hours later, the wind of trader opinion has changed direction, and now doubts rule the market. Brent crude was trading at $67.59 per barrel, with West Texas Intermediate at $62.49 per barrel.
President Donald Trump’s administration on Tuesday announced three projects valued at $36 billion to be financed by Japan, including an oil export facility in Texas, an industrial diamonds plant in Georgia and a natural gas power plant in Ohio.
Curious Minds Corner
What basin is linked to increased Texas earthquakes from oil and gas production?
The Permian Basin, a large geologic formation, has been associated with heightened seismic activity.