25.2 C
Saturday, July 2, 2022

Oil Prices Slide as Global Uncertainty Rises

Must read

Oil prices edged lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors towards safe-haven assets.

Brent crude dipped 20 cents, or 0.5%, to $43.14 a barrel by 1000 GMT, while U.S. West Texas Intermediate (WTI) crude dropped to $41.15 a barrel, down 14 cents, or 0.4%.

The fall in oil mirrored moves in broader financial markets in Asia amid concerns about escalating tensions between the world’s two biggest economies, U.S and China.

If oil tests $40 it could act as support in the medium term.

- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -spot_img

Latest article