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Crude futures were largely stable in Asian trade on May 6, 2020 after an overnight rally. ICE Brent July was up 8 cents at $31.05 and NYMEX June was up 1 cent at $24.57.
Traders stayed cautious as US-China tensions rose over tariffs and supply chains.
Stable crude after a rally signals a pause in energy-driven price pressure, while US-China trade tensions raise the risk of lower Chinese demand for US commodities.
spglobal.comJeslyn LerhMay 6, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
