WTI And Brent Plunged on New US Trade Tariffs Threat To China

Wednesday, 11/07/2018 | 13:07 GMT

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WTI and Brent prices fell -1.20% at $73.30 and -2.30% at $77.20 respectively amid new threats of $200 billion worth trade tariffs from US to Chinese imports.

US president Trump decided today to threat another 10% tariffs on an extra $200 billion worth of Chinese imports starting at end of August 2018.

The new tariffs could damage the global growth rate which could lower the demand for oil products especially from China which is the largest crude oil consumer in the world.

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Source: https://www.exclusivecapital.com/wti-and-brent-plunged-on-new-us-trade-tariffs-threat-to-china/

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