Oil Tumbles Again as Trade Bogeyman Returns
Tuesday, 15 October 2019 03:39 WIB | ENERGY |Oil,Minyak MentahBrentWTIMinyak

One session is all it took for the optimism over U.S.-China trade talks to turn into pessimism.

Crude oil prices settled down 2% on Monday after a Bloomberg report that China had more demands from the Trump Administration over tariffs and wanted more talks to reach a trade deal. That contrasted with the U.S. president™s contention that the two sides were closer to an agreement.

Just on Friday, U.S. West Texas Intermediate crude U.K. Brent oil settled up more than 2% each, finishing last week up nearly 4% for their biggest weekly gain since the mid-September attack on Saudi Arabia™s oil facilities.

In the latest session, WTI settled down $1.11, or 2%, at $53.59 per barrel. Brent closed down $1.16, or 1.9%, at $59.35.

Source : Investing.com

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