Trump's Threat on China Drops Oil Prices – Al Manar Canal – Lebanon

Oil prices fell on Monday as demand for crude oil declined after US President Donald Trump announced the imposition of tariffs on more Chinese imports, which could intensify the trade war between the two largest economies worldwide.
The situation in the Middle East provided price support.
London Brent crude lost 50 cents, or 0.8%, to 61.39 dollars per barrel at 00:29 GMT. The US WTI benchmark was not better than its predecessor, with a decline of 24 cents, or 0.4%, to $ 55.42 a barrel.
"The demand for oil is disappointing in 2019 due to the weakness of economic activity, weather conditions and inappropriate trade tensions," said Goldman Sachs in a research report.
Limit the scope of US taxes to virtually all Chinese imports.
The trade war is affecting economic growth, leading to reduced demand for commodities such as oil.

Source: Reuters