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Oil sinks to two-week low as China retaliates in US trade war category
April 5, 2018
Source: World Oil

Oil sinks to two-week low as China retaliates in US trade war

China has announced that it will take steps against the measures introduced by the US President. China’s Ministry of Commerce said that it would levy 25% tariffs on imports of 106 U.S. products including automobiles and aircraft. There are emerging concerns regarding the declining economic growth and fuel demand. This decision has eliminated the previous support for prices and OPEC’s output plunged to the lowest in a year in March.

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