DJIA27783.59
LIVE92.10(0.33%)
NDX8259.81
LIVE-3.98(-0.05%)

Oil sinks to lowest levels since June as new U.S. tariffs on Chinese goods feed energy demand worries


Friday, 2 August 2019 02:49 WIB

Minyak WTIMinyak MentahMinyak Brent


c_740_198_16777215_00_images_assets_OIL_LYNXMPEB4H060_L.jpg

A stronger U.S. dollar started oil on the wrong foot Thursday, but news of President Donald Trump's plan to implement new tariffs on Chinese goods fueled worries over a slowdown in the global economy and energy demand, pushing prices to their lowest finish since June.

The U.S. dollar had strengthened earlier to a two-year high, after the Federal Reserve on Wednesday signaled that it might not be as aggressive as traders had expected in delivering further interest rates cuts, following its first cut in more than a decade. The stronger dollar pressured commodity prices across the board.

West Texas Intermediate crude for September delivery fell $4.63, or 7.9%, to settle at $53.95 a barrel on the New York Mercantile Exchange. That was the largest front-month contract percentage decline since Feb. 4, 2015 and lowest settlement since June 19 of this year, according to Dow Jones Market Data.

October Brent crude lost $4.55, or 7%, to end at $60.50 a barrel on ICE Futures Europe, the lowest front-month contract finish in roughly seven weeks.

Source : MarketWatch


RELATED NEWS

  • Oil prices fell on Wednesday as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand. U.S. President Donald Trump sai...
  • Oil prices steadied after rising about 1% on Tuesday following a speech from U.S. President Donald Trump that offered few new details about Washington's trade talks with Beijing. Concerns about slowe...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.