Brent crude oil falls after North Korea nuclear test

4 Sep 2017   Prices

Oil prices fell on Monday after a powerful North Korean nuclear test explosion triggered a flight of investors away from crude markets and into gold futures, which are seen as a safe haven. Brent crude futures LCOc1, the international benchmark for oil prices, had fallen by almost 1 percent from their last close, or 41 cents, to $52.34 per barrel by 0655 GMT. The drop came as traders were nervously eyeing developments in North Korea, where the military conducted its sixth and most powerful nuclear test over the weekend. Pyongyang said it had tested an advanced hydrogen bomb for a long-range missile, prompting the threat of a “massive” military response from the United States if it or its allies were threatened. That put downward pressure on crude as traders moved […]

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