SINGAPORE/TOKYO, June 23 : Oil prices were volatile on Tuesday after markets were spooked by surprise comments from White House trade adviser Peter Navarro
Brent crude fell by 7 cents, or 0.1%, to $43.01 a barrel by 0253 GMT, after earlier skidding to a session low of US$42.21. US oil was down 14 cents, or 0.3%, at US$40.59 a barrel, having dropped to a low of US$39.76. He later issued a statement saying that he had been"speaking to the lack of trust" in the Chinese administration, the comments had been"taken wildly out of context" and the trade deal remains in place.
Prices had risen earlier in the session, with the reopening of some U.S. states and countries around the world after coronavirus lockdowns sustaining a rally as demand for fuel returns. In New York, streets were clogged with traffic as the worst affected city in the United States emerged from more than 100 days of lockdown.
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