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Preferring to fear that the world's largest economy is in a recession, the yield on US Treasury bonds toppled Wednesday for the first time since 2007.
And doomed China In response to the latest US customs taxes, she called on the United States to meet halfway to reach a possible trade deal, while US President Donald Trump said any deal should be in line with US conditions .
A trade war between the world's two largest economies has caused turmoil in global markets and has fueled fears of slowing growth in demand Oil.
During the session, the global benchmark crude fell Brent Up to $ 1.81, or 3%, at $ 57.67 a barrel before reducing losses to $ 1.25, or 2.1%, to $ 58.23 a barrel.
West Texas Intermediate (WTI) crude forward prices in the United States dropped 76 cents, or 1.4%, to $ 54.47 a barrel.
The price of Brent remains 10% higher than its year-to-date level, thanks to the reduction in supply led by OPEC and its allies such as Russia, who form a known group under the name of "OPEC + ".
In July, OPEC + agreed to extend its production cutsOil Until March 2020 to support prices. On August 8, a Saudi official said that further steps could be taken, pointing out that Saudi Arabia was determined to do all that was necessary to maintain the market equilibrium I & # 39; next year.
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Preferring to fear that the world's largest economy is in a recession, the yield on US Treasury bonds toppled Wednesday for the first time since 2007.
China has vowed to meet the latest US tariffs, but called on the United States to meet halfway to reach a possible trade deal, while US President Donald Trump said any deal should be in line to American conditions.
A trade war between the world's two largest economies has caused turmoil in global markets and fueled fears of a slowing growth in oil demand.
During the session, Brent crude futures lost up to $ 1.81, or 3%, to $ 57.67 per barrel, before reducing losses to $ 1.25, or 2.1%, at 58.23 dollars a barrel.
West Texas Intermediate (WTI) crude forward prices in the United States dropped 76 cents, or 1.4%, to $ 54.47 a barrel.
The price of Brent remains 10% higher than its year-to-date level, thanks to the reduction in supply led by OPEC and its allies such as Russia, which form a group called "OPEC +".
In July, OPEC + agreed to extend its production cutsOil Until March 2020 to support prices. On August 8, a Saudi official said that further steps could be taken, pointing out that Saudi Arabia was determined to do all that was necessary to maintain the market equilibrium I & # 39; next year.
