Date: 15 Safar 1441   Monday 14 October 2019

  • Last Update: Monday 14 October 2019، 11:42:48.

- Trade wars between US and China, and US and Europe expected to have significant negative impact on global oil demand
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Oil prices begin week on low with global slowdown worry

08:47 08 October 2019 Author :  

Weak global macroeconomic data continued to weigh on oil prices with lingering fears of sluggish oil demand on Monday.

International benchmark Brent crude was trading at $58.72 per barrel at 0640 GMT on Monday, heading for a 0.37% loss, after it closed the previous session at $58.94 a barrel.

American benchmark West Texas Intermediate was at $52.83 a barrel at the same time for a 0.18% decline after ending Friday at $52.93 per barrel.

The market is concerned that the trade war between the U.S. and China, and now between the U.S. and Europe, could have a significant negative impact on major economies and their oil demand.

Saudi Arabia's quick output recovery is also keeping prices down/aa

  • عنوان تمهيدي: - Trade wars between US and China, and US and Europe expected to have significant negative impact on global oil demand
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