Oil prices fell sharply on Friday as Europe moved closer to another emergency stock release under pressure from the Trump administration, with WTI dropping nearly 4% and Brent falling below $100. At 6:54 a.m. ET, WTI was trading at $89.36, down 3.78%, while Brent was trading at $99.79/barrel, down 2.46%.
A potential ban on exports of diesel fuel from the United States would affect Latin America the most, Goldman Sachs has said, despite reports that the pain from such a ban would be the greatest for Europe.
Curious Minds Corner
What is the key role of a floating production storage and offloading unit?
It produces, stores, and transfers hydrocarbons offshore.