[ad_1]
Brent rose on Tuesday (Aug. 6) after falling earlier to its lowest level since January as lower price traders bought out profit-making contracts following the recent downturn caused by the US dollar. escalation of the trade dispute between China and China.
Futures in Brent rose 56 cents, or 0.9 percent, to $ 60.37 a barrel after falling earlier to $ 59.07, the lowest level since January 14.
Texas Intermediate futures have increased 52 cents, or 1%, to $ 55.21 per barrel.
Brent prices have fallen 7.6% since close on July 31, a day before US President Donald Trump pledges to impose new tariffs on imports from China, forcing China to avenge agricultural imports from the United States, which reacted to the decline of the Chinese yuan.
Brent fell more than 3% on Monday, August 5, traders fearing that a persistent trade dispute between the largest oil buyers in the world is slowing demand.
[ad_2]
Source link
