Oil slips on US-China tensions and gloomy demand outlook
Saudi and US officials also express concern over maritime traffic after Iran seizing a number of tankers in the Strait of Hormuz recently
07 August 2019 - 12:24
London — Oil prices slipped further on Wednesday, extending recent heavy losses as deepening China-US trade tensions weighed on the outlook for the global economy and energy demand.
Brent crude futures were down 11c, or nearly 2%, at 8.23am GMT to set a fresh seven-month low. Prices have lost more than 20% since hitting their 2019 peak in April. US West Texas Intermediate (WTI) crude futures were flat at $53.63...
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