Stock market quotes, forex, financial news, forex tools – money-investing.com

The intensification of the conflict between the USA and China leads to reduction of oil prices

 Breaking News
  • Microsoft, Amazon and eBay are at record highs On Tuesday, securities of Microsoft Corp, Amazon.com Inc and eBay Inc broke records. The rush of investors’ demand for the shares of those companies involved in electronic commerce caused such...
  • Quarantine in Hong Kong is not for everyone Hong Kong is rescuing its stock exchange. In order to give life to the trading platform, the administration of the metropolis has shown flexibility concerning quarantine measures. So, Christopher Hui...
  • Economy of Japan demonstrates recession In the first quarter of this year, the economy of the Land of the Rising Sun dropped by 0.6% in monthly terms. The figures are not optimistic but are better...
  • Energy market news On Saturday, representatives of the countries included in the OPEC+ cartel managed to agree on the extension of the restrictions on oil production. It also became known that those countries...
  • Bentley fires employees in order to prevent losses in 2020 The Bentley brand has long been synonymous with luxury living. Unfortunately, the British automaker has to save because of a forced two-month break. The company’s CEO Adrian Hallmark said to...
The intensification of the conflict between the USA and China leads to reduction of oil prices
May 27
09:00 2020

The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors doubt that the demand could recover.

So, at 8.15 Moscow time, contracts for the European Brent crude oil fell by 0.44% and were trading at around 36.01 US dollars per barrel. Yesterday, the asset grew by 0.64%.

Futures for American WTI crude oil have fallen too. At the same time, the decline amounted to 0.55%; the asset was estimated by the market at $ 34.16. Yesterday, WTI showed very substantial growth – 3.31% or $ 1.1.

We recall that a decrease in demand caused the catastrophic drawdown of the oil market. Recovery of demand is the only condition for the price growth in the energy market.

The news about the gradual return to life of key economies has had a positive impact on oil quotes. No sooner had the market recovered from the losses, as it was pulled down by the news of official Washington about new possible sanctions against China.

This time the situation in Hong Kong became another bone of contention. A week ago, China announced the release of a bill that would restore order in the enclave, which triggered a violent reaction from the States.

 

Материал подготовлен с участием Кати Вилсон,
ведущего аналитика брокерской компании UFT Group

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment