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

Oil Holds Loss After Trump Tweet Adds to Trade War Pessimism


Wednesday, 4 September 2019 09:07 WIB

Minyak WTI


c_740_198_16777215_00_images_assets_Oil3_crude-oil-copy.jpg01-770x433.jpg

Oil held losses after a surprise contraction in American manufacturing and a warning from President Donald Trump highlighted the impact and intractability of the U.S.-China trade war.

Futures in New York edged higher after closing 2.1% lower on Tuesday. A key U.S. factory gauge fell below 50 for the first time since 2016, adding to concern the world’s largest economy may be headed for a recession. Trump tweetedthat China will have a much tougher time securing a trade deal if the Asian nation waits until he wins the 2020 U.S. presidential election.

WTI for October delivery rose 29 cents, or 0.5%, to $54.23 a barrel on the New York Mercantile Exchange as of 9:56 a.m. in Singapore. The contract declined $1.16 over the previous two days. There was no settlement price on Monday due to the Labor Day holiday in the U.S.

Source: Bloomberg


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.