Singapore — Brent crude rose on Tuesday, after earlier falling to its lowest since January, as traders betting on falling prices bought back contracts to lock in profits from recent declines caused by the escalating trade dispute between the US and China.
Brent prices have plunged 7.6% since their close on July 31, the day before US President Donald Trump vowed to impose new tariffs on Chinese imports, causing China to retaliate against agricultural imports from the US, which responded to a decline in the Chinese yuan on Monday by branding the country a currency manipulator later in the day...
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.