Oil prices fell amid fears of a growing trade row
Oil prices fell as investors returned to focus on fears that the growing [url=https://www.thebaghdadpost.com/ar/Story/t/105236/%D8%A7%D9%84%D8%AE%D9%84%D8%A7%D9%81 %D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A]trade dispute[/url] between China and the United States could affect oil demand growth and data showing oversupply.
Global Brent crude has dropped nearly $ 8 a barrel since hitting a four-year high of $ 86.74 a barrel on October 3, as it fell as global economic growth expectations fell as the United States and China exchanged charges for goods imported from the United States. Billions of dollars.
Brent fell 76 cents to settle at $ 79.29 a barrel, while US crude fell $ 1.10 or 1.6 percent to close at $ 68.65 a barrel.
On October 9, the International Monetary Fund lowered its forecast for global economic growth in 2018 and 2019, partly because of the impact on trade caused by trade tensions and tariffs.
The IMF forecast global growth of 3.7 percent in 2018 and 2019, down from its July forecast of 3.9 percent in both years.
Earlier, Brent fell below $ 79 a barrel, a day after a US Department of Energy report showed oil producers had put 22 million barrels in storage tanks over the past four weeks.