Oil prices rise in Asian trading following brutal sell-off overnight | Financial Times

Oil prices rise in Asian trading following brutal sell-off overnight | Financial Times:

Oil prices recovered in Asian trading hours on Friday, just hours after crude suffered its worst one-day decline in more than three years over signs that trade tensions between the US and China are heating up again.

In afternoon trading in Asia, Brent, the international oil marker, rose 2.2 per cent to $61.84 a barrel, while West Texas Intermediate , its US equivalent, was up 1.7 per cent to $54.91.

Overnight, Brent fell 7.2 per cent to $60.50 a barrel in what was its worst one-day performance since February 2016, after US President Donald Trump announced he would slap a 10 per cent tariff on $300bn worth of imports from China from September 1.