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Brent crude trades at $45.05 per barrel at decrease

Syed Umarullah HussainiWeb Editor

20th Aug, 2020. 09:20 am
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Oil Prices Keep Falling On Fears Over Worldwide Demand Amid Lockdown

On the fourth day of the business week, Brent crude traded at $45.05 per barrel at decrease.

According to the details, American benchmark West Texas Intermediate was at $42.56 per barrel at the same time, down 1.3% after ending the previous session at $43.12 a barrel.

US president Donald Trump earlier said he postponed trade negotiations with China, commenting that he does not want to talk to China “right now.”

Furthermore the dcheduled talks between representatives from the US and China to discuss the implementation of the so-called Phase 1 trade pact on Saturday were canceled.

The escalating US-China tension is intensifying the risk of low oil demand from the world’s two largest economies and oil consumers and putting negative pressure on oil prices.

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