Oil Falls as China Devalues Yuan, Stops U.S. Agriculture Buying
Tuesday, 6 August 2019 03:42 WIB | COMMODITY |MinyakWTIBrent

China vowed to hit back at Donald Trump™s new tariffs, but what commodity traders didn™t bargain for was a one-two punch from Beijing that included a currency devaluation.

Oil prices slumped, with Brent crude crashing beneath key $60 support, as China allowed the yuan to tumble to its weakest level in a decade against the dollar. The Beijing action was a retaliation against Trump's plan to impose from Sept. 1 a 10% tariff on hitherto untaxed Chinese imports of $300 billion. The Xi Jinping administration added to the blow of the devaluation by ordering state-owned companies to suspend imports of U.S. agricultural products.

New-York traded West Texas Intermediate crude settled down 97 cents, or 1.7%, at $54.69 per barrel.

London-traded Brent crude, the benchmark for oil outside of the U.S., slid $2.05, or 3.3%, to $59.84.

Source : Investing.com

RELATED NEWS

Oil Futures End Lower After EIA Cuts Price Forecasts
Wednesday, 8 April 2020 02:09 WIB

Oil futures settled lower on Tuesday, giving up earlier gains after the Energy Information Administration lowered its U.S. and global benchmark crude price forecasts for this year and next. Traders also weighed prospects for a global output cut when major producers meet later this week. May West T...

U.S. Oil Prices Mark First Loss In 3 Sessions
Tuesday, 7 April 2020 02:10 WIB

Oil futures settled with a loss on Monday, with U.S. prices down for the first time in three sessions. A key meeting of major oil producers that was originally expected Monday was pushed to Thursday, contributing to uncertainty in the market as traders await news potential crude production cuts. M...

Brent Oil Rises Above $32 On Hopes Of Output Deal
Friday, 3 April 2020 18:52 WIB

Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply. Brent crude LCOc1 futures were up 9.3%, or $2.79, at $32.73 a barrel by 10:14 GMT. Brent soared as much as 47% on Thursday for its highest intraday percentage...

Oil Rallies 10% After Trump Says He Expects Saudi Arabia-Russia Feud To End Soon
Thursday, 2 April 2020 19:26 WIB

Oil prices rallied on Thursday after President Donald Trump talked up the possibility of Saudi Arabia and Russia ending a squabble that contributed to crude™s massive plunge since last month. West Texas Intermediate futures surged by $2.11, or 10.4%, to $22.42 per barrel. International benchmark ...

Oil Prices Could Soon Turn Negative As The World Runs Out Of Places To Store Crude
Wednesday, 1 April 2020 19:18 WIB

Global oil storage could reach maximum capacity within weeks, energy analysts have told CNBC, as the coronavirus crisis dramatically reduces consumption and some of the world™s most powerful crude producers start to ramp up their output. The coronavirus pandemic has meant countries have effective...

ANOTHER NEWS
Trump Threatens to Cut WHO Funding
Wednesday, 8 April 2020 23:49 WIB The United States is "going to put a very powerful hold on money it sends to the World Health Organization, President Donald Trump said on Tuesday, blaming the United Nations humanitarian entity of missing the onslaught of the COVID-19...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.