Falling oil prices due to the US-China tensions

Wednesday 27th May 2020 - 13:24

Falling oil prices due to the US-China tensions

follow-up - INA

 

 Oil prices fell on Wednesday, despite the recovery in the pace of demand for fuel, with the easing of the isolation measures imposed due to the outbreak of the Corona virus, due to the negative sentiment of the escalating US-China tensions.

 And Brent crude futures fell by 50 cents, equivalent to 1.4% to 35.67 dollars a barrel, and West Texas US crude by 52 cents, or 1.5%, to 33.83 dollars a barrel.

 The viewer believes that the oil market is still fragile, disputed by the consequences of the epidemiological measures taken in most of the world and the shadows that it receives on demand, and the political and economic turmoil between the oil poles producers and consumers such as America and China.