Oil falls 5% on growing US-China tensions
Even as petrol demand increases as countries open up amid the coronavirus, there are still concerns about the pace of demand recovery
London — Oil fell more than 5% on Friday, heading towards $34 a barrel as tensions rose between the US and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.
China is set to impose new national security legislation on Hong Kong, drawing a warning from US President Donald Trump. Beijing also failed to set an economic growth target as the pandemic hammers the word’s second-largest economy...