“American-Chinese” tension drops oil | Sky News Arabia news

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The markets received support last week as the major oil producers were to start driving Saudi Russia will cut production in early May, while the largest producers said in United StateExxonMobil and Chevron will cut production by 400,000 bpd this quarter.

But the American President’s comments Donald Trump In which he threatened to search further customs fees On ChinaIn response to an outbreak Corona Virus, She renewed fears that trade tensions could hinder economic recovery and end oil price gains.

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By 00:08 GMT, US West Texas Intermediate crude futures fell $ 1.46, or 7.6 percent to $ 18.27 a barrel.

Brent crude futures fell 90 cents, or 3.4 percent, to $ 25.54 a barrel, after touching $ 25.53. And Brent crude rose last week by about 23 percent after incurring losses for three consecutive weeks.

The markets received support last week as the major oil producers were to start driving Saudi Russia will cut production in early May, while the largest producers said in United StateExxonMobil and Chevron will cut production by 400,000 bpd this quarter.

But the American President’s comments Donald Trump In which he threatened to search further customs fees On ChinaIn response to an outbreak Corona Virus, She renewed fears that trade tensions could hinder economic recovery and end oil price gains.





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