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Oil drops as U.S.-China standoff extends beyond trade


Thursday, 21 November 2019 18:24 WIB

Minyak WTI


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Oil prices edged lower on Thursday as fresh tensions between the United States and China over protests in Hong Kong fueled concern that a deal to end a trade war between the world's top two economies may be further delayed.

Brent crude fell 44 cents, or 0.7%, to $61.96 a barrel by 09.51 GMT, while West Texas Intermediate crude was down 36 cents, or 0.6%, at $56.65.

Both benchmarks had risen strongly on Wednesday due to bullish data on U.S. crude inventories.

U.S. President Donald Trump is expected to sign two bills passed by Congress intended to support protesters in Hong Kong. That followed a Reuters report that completion of a "phase one" U.S.-China trade deal could slide into next year.

Source: Reuters


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