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Oil Drops on Doubts U.S.-China Trade Deal Will be Signed Soon, Rising U.S. Stockpiles


Friday, 8 November 2019 08:31 WIB

Minyak WTIOil,Crude Oil


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U.S. crude oil futures fell on Friday amid fading hopes that a deal to end the lingering trade war between Washington and Beijing would be signed any time soon, the gloom compounded by rising crude inventories in the United States.

U.S. West Texas Intermediate (WTI) crude was down 15 cents, or 0.2%, at $57 a barrel by 0032 GMT. The contract rose 1.4% on Thursday.

Brent crude, the global benchmark, was yet to trade after gaining 0.9% in the previous session.

The trade war between the world’s two biggest economies has slowed economic growth around the world and prompted analysts to lower forecasts for oil demand, raising concerns that a supply glut could develop in 2020.

Source : Reuters


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