[ad_1]
Direct: Oil prices lost nearly 8% during Thursday's trading session, marking the worst daily performance since February 2015, with escalating trade tensions and negative data on global manufacturing activity.
The oil losses occurred while US President Donald Trump announced his intention to impose 10% tariff on Chinese goods worth $ 300 billion as of September 1st.
Oil prices were under pressure as the US dollar reached its highest level in more than two years before reversing, after statements by the Federal Reserve Chairman that the rate cut did not mean a change. a long concessionary policy that would continue.
The crude was also affected by economic data showing a contraction in industrial activity in the Eurozone, the United Kingdom and China, threatening to slow global demand for crude oil.
Data from the US Energy Information Administration showed yesterday that US production rose 900,000 barrels a day during the week ending July 26, reaching 12,200 million barrels a day..
On the other hand, inventories decreased by 8.5 million barrels to 436.5 million barrels over the same period..
On the settlement, the US futures futures for September delivery fell 7.9% to $ 53.95 a barrel, the lowest level of the decade, the most active since June 10.
At 18:59, October's benchmark Brent crude fell 6.7% to $ 60.70 a barrel..
[ad_2]
Source link
