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Oil Lower on Renewed Trade-War Fears
Friday, 20 July 2018 19:21 WIB | ENERGY |Minyak WTIbrent oilOil,Crude Oil

Oil futures traded lower Friday, on track for a third straight weekly decline, on renewed trade-war fears after President Donald Trump said he was ready to impose tariffs on all $505 billion worth of Chinese imports.

West Texas Intermediate crude for September delivery the U.S. benchmark, fell 31 cents, or 0.5%, to $67.93 a barrel. The global benchmark, September Brent crude was flat at $72.58 a barrel, on the ICE Europe exchange.

In an interview with CNBC, Trump said he was prepared to impose tariffs on all Chinese goods imported into the U.S. Trade-war concerns have periodically weighed on oil prices on fears that a hit to global growth would undercut demand.

Source : Marketwatch

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