Trump tariff threat pushes oil to five-month low

Brent crude futures were down US$2.54, or 3.89%, at US$62.68 a barrel at 1:14 p.m. CDT (1814 GMT). US West Texas Intermediate crude was down US$2.68, or 4.36%, at US$58.83.

HOUSTON: Brent and US crude futures fell more than US$2 a barrel, or more than 3%, on Friday as US President Donald Trump's threat to impose increased tariffs on China cast a shadow over the demand outlook in a market seen as oversupplied.

"The sell-off was driven by a shift to risk-off markets following Trump's post threatening tariffs on Chinese goods," said Giovanni Staunovo, an analyst with UBS.