Oil falls on U.S.-China tensions over Hong Kong - Reuters:
Oil prices fell on Wednesday after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong.
A potential deterioration in relations between the world’s two biggest economies could ratchet up the pressure on global businesses and oil demand already weakened by the coronavirus pandemic.
Brent crude LCOc1 fell 47 cents, or 1.3%, to $35.70 a barrel by 1106 GMT and U.S. West Texas Intermediate (WTI) crude CLc1 was down 32 cents, or almost 1%, at $34.03.
“As much as oil fundamentals are improving, there are still several flies in the bullish ointment. They include the latest uptick in U.S.-China tensions,” said Stephen Brennock of oil broker PVM.
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