Oil Prices Slip as Weak China Exports Highlight Trade War Impact
Monday, 9 December 2019 18:36 WIB | COMMODITY |BrentWTIMinyak

Oil prices fell on Monday after data showed Chinese exports declined for a fourth straight month, sending jitters through a market already concerned about damage being done to global demand by the trade war between Washington and Beijing.

Brent futures were down 44 cents, or 0.68%, at $63.95 per barrel by 09:35 GMT, after gaining about 3% last week on news that OPEC and its allies would deepen output cuts.

West Texas Intermediate oil futures were down 48 cents, or 0.81% to $58.72 a barrel, having risen about 7% last week on the prospects for lower production from œOPEC+, which is made up of the Organization of the Petroleum Exporting Countries and associated producers including Russia.

Monday™s sudden chill came after customs data released on Sunday showed exports from the world™s second-biggest economy in November fell 1.1% from a year earlier, confounding expectations for a 1% rise in a Reuters poll.

Source : Reuters

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