Oil Holds Losses Below $56 After Trump Warns Against High Prices
- Trump calls on OPEC to ‘relax and take it easy’ in a tweet
- WTI futures little changed after dropping 3.1% on Monday
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Oil held losses below $56 a barrel after tumbling the most in four weeks as U.S. President Donald Trump tweeted that prices are too high and called on OPEC to “relax and take it easy.”
Futures in New York were little changed after declining 3.1 percent on Monday. Trump’s war of words with the Organization of the Petroleum Exporting Countries punctuated big price swings last year, as he pressured the group to keep the taps open to help consumers. On Monday, he warned the world cannot take a price hike.