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Home / Business / Reuters: Oil slips as the US and China introduce more tariffs on trade war news

Reuters: Oil slips as the US and China introduce more tariffs on trade war news



21:37, 02. September 2019


Economy


20

The United States began charging 15% duty on a number of Chinese goods on Sunday – including shoes, smart watches, and flat panel TVs – as China imposed new tariffs on US crude oil, the latest escalation in a bloody trade war , [19659005] flickr.com "src =" https://images.unian.net/photos/2019_01/1547220574-3214.jpg?0.7406203572646957 "title =" flickr.com "/>

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Brent crude fell 97 cents to $ 58.28 per ounce Barrel to 1

543 GMT, while the US Crude oil (WTI) fell 46 cents to $ 54.63 a barrel, but activity was low due to Reuters reported US Labor Day

The US led on Sunday Tariffs of 15% on various Chinese goods – including shoes, smartwatches, and flat-panel TVs – as China poses new challenges to the US crude oil, the recent escalation in a bloody trade war.

Read also Reuters : The price of oil rises by more a ls 1% due to the sharp decline in US crude oil stocks

US. President Donald Trump said the two sides would meet later this month. Trump wrote on Twitter that his goal was to reduce US dependence on China, and again urged US companies to find alternative suppliers outside of China.

"Even as President Trump indicated that the planned talks between the US and China are still ongoing The market is increasingly dependent on a protracted stalemate between the two countries and is seeking easing of the central bank to bolster risk appetite "said Harry Tchilinguirian of BNP Paribas.

Beijing's 5% Commitment to US Crude Oil For the first time since the world's two largest economies began their trade wars more than a year ago, fuel was targeted.

Elsewhere, oil production by members of the Organization of Oil Exporting Countries rose in August for the first month of this year. In the US, Hurricane Dorian was forecasted as higher supply from Iraq and Nigeria is the reluctance of top exporter Saudi Arabia and declines due to US sanctions against Iran outweighed heavy rains and storm surges on the east coast of Florida from Monday to Wednesday before traveling north toward the coast of Carolina km / h), urging it to move across the ocean and save the US mainland a direct hit. If left offshore, the storm is unlikely to result in a reduction in fuel demand, which typically follows storm surges and power outages.

Energy companies have also lowered their rigs for the ninth month in a row to their lowest level since January last year. According to a report from the Department of Energy on Friday, total US crude oil production fell for the second month in a row in June


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