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Oil prices slide despite easing Sino-U.S. trade tensions
Oil prices slid down on Monday in Asia despite easing Sino-U.S. trade tensions.
China’s Office of the U.S. Trade Representative (USTR) said on Friday that Beijing and Washington were close to signing a partial trade deal.
“They made headway on specific issues and the two sides are close to finalizing some of the sections of the agreement,” the USTR said. “Discussions will go on continuously at the deputy level, and the principals will have another call in the near future.”
Despite positive developments, U.S. Crude Oil WTI Futures lost 0.3% by 12:50 AM ET (04:50 GMT), while Brent Oil Futures fell o.7% to $61.60.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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