Singapore — Oil prices dipped on Thursday as emerging-market woes weighed on sentiment, while a deadline neared for a potential new round of US tariffs on another $200bn of Chinese goods. Looming US sanctions against Iran, however, prevented prices from falling further as they are expected to tighten the market after being implemented from November, traders said. US West Texas Intermediate (WTI) crude futures were at $68.60 a barrel at 4.24am GMT, down 12c, or 0.2%, from their last settlement. Brent crude futures fell by 5c, to $77.22 a barrel. Emerging-market weakness is weighing on global economic growth prospects, with Asian shares on Thursday heading for their sixth consecutive session of losses. Meanwhile, a public comment period on possible US tariffs on another $200bn of Chinese goods ends on Thursday, with the expectation that US President Donald Trump will impose the additional levies. "The prospects of increased supplies from Opec and her allies, and weaker demand from Chi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.