Oil drops more than 4% in second negative session in three on U.S.-China tensions
Thursday, 28 May 2020 01:42 WIB | ENERGY |Minyak WTIMinyak jenis Brent

Oil futures tumbled on Wednesday after U.S. President Donald Trump said he was working on a strong response to China™s proposed security law in Hong Kong and as some traders doubted Russia™s commitment to deep production cuts.

Brent crude fell $1.38, or 3.8%, to $34.79 a barrel, while West Texas Intermediate crude settled $1.54, or 4.48%, lower at $32.81 per barrel.

Meanwhile, tensions between the U.S. and China continued to rise after China announced plans to impose new national security legislation on Hong Kong, prompting protests in the street.

Source: Reuters

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