Oil slips on tweet, tankers and trade talk

Oil slips on tweet, tankers and trade talk

Jaya Maheshwari
07 Aug 2019 05:04 PM
Oil prices have fallen from Apr 25 high of 75.60 to a low of 58.55 seen yesterday (about 29% fall) left at the mercy of the three Ts creating havoc in all the financial markets. Brent prices have fallen by over 10 percent since last week ever since the tweet from Trump on levying a 10 percent trade tariff on Chinese imports worth USD 300 billion from September 1. The equity market across the globe went down south taking forex and bond market along with it. Naming the second largest economy for manipulating their currency, further gave shivers the markets.

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