Oil trades lower amid reduced trade deal hopes

Markets 1/10/2019, 7:32 PM
Oil trades lower amid reduced trade deal hopes

Crude prices traded in the red on Thursday, reversing losses from the previous session as investors grew worried about the lack of progress on the trade deal between the United States and China. The slight decline in oil values follows yesterday's 5% jump.

Meanwhile, market watchers were also concerned about the lowered outlook for global economic growth in 2019. The worries about the health of the Chinese economy also contributed towards subdued investment incentives in the oil market. In the meantime, Iran's refusal to comply with Washington's crude sanctions also drew crude values into the negative territory.

West Texas Intermediate for February delivery fell 0.59%, changing hands for $52.03 per barrel at 7:20 pm CET while the international benchmark Brent for settlements in March lost 0.46% to go for $61.11 per barrel at the same time.

Breaking the News / VK

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Share:

Brent Crude (...+1.10%

61.82
Chart for: F BRN 3/19

F WBS+0.95%

52.96
Chart for: F WBS 3/19