empty
 
 

2018.08.2706:08:00UTC+00Oil Dips As Trade Tensions Weigh

Oil prices fell on Monday on concerns that the U.S.-China trade dispute will hurt global growth. The downside, however, remained limited ahead of looming U.S. sanctions against Iran's oil sector.

Global benchmark Brent crude was down 35 cents or 0.46 percent at $75.78 a barrel while U.S. West Texas Intermediate (WTI) crude futures were down 31 cents at $68.41 a barrel. Trading activity was limited due to a public holiday in Britain.

Falling U.S. rig counts and a major draw in crude oil inventories last week supported prices as investors fret about the potential fallout from the U.S.-China trade dispute and the Turkish lira's crash on global oil demand growth.

Traders expect a major drop in supply once a second round of U. S. sanctions targeting Iran's valuable oil and energy sector come into effect in early November.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback