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Crude oil prices try to recover from two-week lows
LONDON (Reuters) - Crude oil prices fell on Monday morning in Asia after falling on Friday and hitting a two-week low amid rising fears of a deepening trade war between the world's two largest economies.
US crude futures traded at $ 62.27 a barrel, after hitting a high of $ 62.34 a barrel, while opening today's session at $ 61.97 a barrel, the lowest level at $ 61.92 a barrel.
Fears of an intense trade dispute between the United States and China have affected oil markets as US President Donald Trump threatens to impose new tariffs on China. On Thursday, he said he had ordered US trade officials to study a $ 100 billion surcharge on China.
At the same time, China has increased tariffs by up to 25 percent on 128 US products.
Tensions between the United States and China could hurt global growth. There are also fears that if China is paid with enough force, it will impose a tax on imported US oil to China.
http://economy-news.net/content.php?id=11873
LONDON (Reuters) - Crude oil prices fell on Monday morning in Asia after falling on Friday and hitting a two-week low amid rising fears of a deepening trade war between the world's two largest economies.
US crude futures traded at $ 62.27 a barrel, after hitting a high of $ 62.34 a barrel, while opening today's session at $ 61.97 a barrel, the lowest level at $ 61.92 a barrel.
Fears of an intense trade dispute between the United States and China have affected oil markets as US President Donald Trump threatens to impose new tariffs on China. On Thursday, he said he had ordered US trade officials to study a $ 100 billion surcharge on China.
At the same time, China has increased tariffs by up to 25 percent on 128 US products.
Tensions between the United States and China could hurt global growth. There are also fears that if China is paid with enough force, it will impose a tax on imported US oil to China.
http://economy-news.net/content.php?id=11873
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