News Formal

Oil prices fall as market eyes trade war

  • 📰 PremiumTimesng
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 78%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Oil prices fell on Tuesday as the ongoing U.S.-China trade war cast a pall over markets, with soft South Korean data adding to concerns over emerging markets and a rise in OPEC output.

U.S. crude CLc1 was down 26 cents, or 0.5 per cent, at 54.84 dollars a barrel by 0644 GMT, while Brent LCOc1 was down 6 cents at 58.60 dollars a barrel.

A move on Sunday by Argentina to impose capital controls is also casting a spotlight on emerging market risks. Output from the OPEC rose in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top Saudi Arabia and losses caused by U.S. sanctions on Iran.OPEC, Russia and other non-members, known as OPEC+, agreed in December to reduce supply by 1.2 million bpd from Jan. 1 this year.

Russian oil production C-RU-OUT in August rose to 11.294 million barrels per day , topping the rate Moscow has pledged to cap output at under a pact with other producers and hitting its highest since March, data showed on Monday.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil Prices Fall As Market Eyes Trade War, Stocks DataOil Prices Fall As Market Eyes Trade War, Stocks Data Oil prices fell on Tuesday as the ongoing U.S.-China trade war cast a pall over markets, with soft South Korean data adding to concerns over emerging
Source: LeadershipNGA - 🏆 4. / 77 Read more »