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Oil Mixed as Shrinking China Economy Overshadows Trump Plan to Ease US Coronavirus Lockdown


Friday, 17 April 2020 13:19 WIB

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Oil prices were mixed on Friday after the weakest Chinese economic data in decades showed the impact of the coronavirus pandemic, offsetting some earlier gains on optimism for President Donald Trump's early plans to revive the U.S. economy.

Brent was up by 55 cents, or 2%, at $28.37 a barrel by 04:06 GMT, while U.S. crude WTI for May delivery, which expires on April 21, was down 13 cents, or 0.7%, at $19.74 a barrel. The more active June contract was up $1, or 4%, at $26.53.

China's economy shrank for the first time since at least 1992 in the first quarter, as the coronavirus outbreak paralysed production and spending and punched a huge hole in global demand for crude and refined products.

Source : Reuters


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