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Oil prices plummeted on Thursday as the escalating US-China trade war hit equities and dampened oil demand growth expectations. WTI fell below $60 for the first time since late March, and Brent dipped below $70.
China said talks could not resume until the US corrected its 'wrong actions', and a weak US manufacturing reading added to the selloff.
Escalating tariff retaliation between the two largest economies lowers global growth and energy demand outlooks. Weaker crude prices reduce biofuel economics and can soften demand for feed-grain and oilseed markets.
oilprice.comTsvetana Paraskova23 mag 2019Dopo 80 eventi commercio ribassista passati, Petrolio greggio (WTI) si è mosso in mediana di -2,2% in 5 sedute (30% in rialzo; metà centrale da -6,9% a +0,8%), e di -1,5% in 20.
Dopo 56 eventi commercio ribassista passati, Petrolio greggio (Brent) si è mosso in mediana di -5,6% in 5 sedute (20% in rialzo; metà centrale da -9,0% a -1,7%), e di -4,5% in 20.
Variazioni del benchmark di ciascuna materia prima rispetto all'ultima chiusura prima dell'evento. Le letture storiche raggruppano eventi passati dello stesso tipo; descrivono ciò che è accaduto, non ciò che accadrà. Non è consulenza di investimento.
Covers the May 23 worst day in six months as trade war escalation hit equities and oil demand expectations, with weak US manufacturing data.
Describes the worst oil day in six months as the trade war hit equities and demand growth expectations, with weak US manufacturing data adding to the selloff.
Trade-war escalation hit equities and oil demand expectations, with Brent dipping below $70, a sentiment and demand channel, but the date precedes the window.
