Tension between U.S. and China pushes oil prices back

On the morning of Wednesday (27), oil prices retreated more than 1%. The result is a consequence of tensions involving the U.S. and China, especially after U.S. President Donald Trump said he is working hard to respond to China's proposal for a security law for Hong Kong.Brent

crude oil was down $0.53, or 1.47 percent, to $35.64 per barrel at 8:34 a.m. PDT. U.S. crude fell $0.38, or 1.11 percent, to $33.97 per barrel. Last Tu

esday (26), the White House spokeswoman said the president was "disappointed" with China's plans to impose a security law in Hong Kong and has doubts about the future of the territory as a global financial center if Beijing goes ahead.

In this way, global companies and oil demand, which were already affected by the pandemic, can receive another impact from the deterioration in relations between the world's two largest economies. 

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