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
22 May 2020 - 12:17
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...
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.