Crude oil dropped amid concerns over the escalating trade battle between the United States and China, despite a surprise fall in U.S. crude stockpiles.
However, downside seen limited on signs of tighter global supply on the back of production cuts by the OPEC and its allies, including Russia.
Global supply has also been tightened by U.S. sanctions on OPEC members Venezuela and Iran.
In a sign that Asia demand remains firm, China’s crude imports in April hit a record for the month, at 10.6 million barrels per day, customs data showed.
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