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 Heads for Weekly Loss on Signs of Adequate Global Supplies
Friday, 15 November 2019 19:03 WIB

Oil headed for a weekly decline as rising U.S. crude inventories and new production elsewhere signaled that global markets will remain comfortably supplied. Futures slipped 0.5% in New York, bringing the loss this week to 1.3%. U.S. government data showed stockpiles expanded by 2.22 ...

Oil Rises on Signs of U.S. Supply Drop, OPEC Shale Outlook
Thursday, 14 November 2019 18:49 WIB

Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a œsharp slowdown in American shale output next year. Futures added 1.1% in New York. Expectations that the U.S. government will report that crude inventor...

Oil Falls Amid Uncertainty Over Trade War and OPEC Supply Cuts
Friday, 8 November 2019 19:50 WIB

Oil fell as traders awaited more concrete signs that the U.S. and China are resolving their trade dispute, and amid concerns that OPEC and its partners won™t deepen output curbs to prevent a glut. Futures lost as much as 1.9% in New York. The U.S. and China have agreed to roll...

Oil Resumes Gains as Trade Tariff Rollback Counters OPEC Curbs
Thursday, 7 November 2019 19:27 WIB

Oil jumped as China and the U.S. made progress in resolving the trade dispute that has weighed on global markets this year, offsetting signs that OPEC and its partners won™t make deeper cuts to supply. Brent crude rose as much as 1.5% in London, reversing much of Wednesday™s 1.9% decline. ...

Oil Slips From Six-Week High on Signs U.S. Supplies Rose Again
Wednesday, 6 November 2019 18:18 WIB

Oil retreated from a six-week high as signs of another increase in U.S. crude reaffirmed the prevailing view that global markets are comfortably supplied. Futures lost as much as 0.8% in New York after rising 5.6% over the past three sessions. The American Petroleum Institute reported&nbs...

ANOTHER NEWS
Senate Passes Bill to Support Human Rights in Hong Kong
Wednesday, 20 November 2019 23:58 WIB The Senate has easily approved a bill to support human rights in Hong Kong following months of often-violent unrest in the semi-autonomous Chinese city. The Hong Kong Human Rights and Democracy Act was passed by voice vote Tuesday. It now goes to...

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.