Oil falls as US, China add more tariffs in trade war
Tuesday, 3 September 2019 03:33 WIB | ENERGY |Minyak WTIMinyak MentahMinyak Brent
Oil prices weakened on Monday after new import tariffs imposed by the United States and China came into force, raising concerns about a further hit to global economic growth and demand for crude.
Brent crude was down 64 cents to $58.61 a barrel at 2:24 p.m. EDT (18:24 GMT), while U.S. benchmark WTI crude was down 33 cents at $54.77 a barrel. Activity was thin due to the U.S. Labor Day public holiday.
The United States began imposing 15% tariffs on a variety of Chinese goods on Sunday - including footwear, smart watches and flat-panel televisions - as China put new duties on U.S. crude, the latest escalation in a bruising trade war.
Source : Reuters
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