MTECHTIPS:-Oil Prices Gain; Sino-U.S. Trade War in Focus MTECHTIPS-Oil prices gained on Monday in Asia following a volatile week as traders digested the latest development on the Sino-U.S. trade front. Crude oil WTI futures rose 1.0% to $55.33, while Brent futures climbed 1.1% to $59.27. Oil markets swung between gains and losses last week as a delay on tariffs on some Chinese goods sent crude prices higher but concerns over the possibility of a recession and a surge in crude stockpiles put pressure on the markets. U.S. President Donald Trump reiterated over the weekend that he is not ready to make a trade deal with China, hinting that he wants to see Beijing deal with the ongoing protests in Hong Kong first. “I would like to see Hong Kong worked out in a very humanitarian fashion,” Trump said. “I think it would be very good for the trade deal.” The president added that he will make a decision later in the day on whether to extend a license that would allow Chinese tech giant Huawei to continue doing business with U.S. companies The news came following some conflicting trade war signals last week. China’s finance ministry said on Thursday it has to take necessary counter-measures against the latest U.S. tariffs on $300 billion of Chinese imports, but the government also said it hoped to meet Washington halfway on trade MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips WWW.MTECHTIPS.COM 07489294118-119
Published on Aug 19 2019 6:40PM, by MTECHTIPS in Commodity tips| Share This