Oil falls as U.S. rights bill fuels tensions with China
Thursday, 28 November 2019 18:40 WIB |
ENERGY |Minyak WTI
Oil prices fell for a second day on Thursday after official data showed U.S. crude and gasoline stocks rose and President Donald Trump signed into law a bill backing protesters in Hong Kong, fuelling tensions with China.
Brent crude was down 26 cents, or 0.4%, at $63.80 a barrel by 1038 GMT, having dropped 0.3% on Wednesday.
West Texas Intermediate crude fell 27 cents, or 0.5%, to $57.84, after losing 0.5% in the previous session.
China warned the United States that it would take œfirm countermeasures in response to U.S. legislation backing anti-government protesters in Hong Kong.
Investors are concerned that the move might delay further a preliminary agreement between the United States and China to put an end to their trade war that has slowed global economic growth, and consequently consumption of oil.