Tension between U.S. and China leads to drop in oil

Tensions between the world's two largest economies are high again and China has warned that some in the U.S. are pushing the two countries toward a new Cold War. As a result, the international price of oil fell again, increasing uncertainties about the prospects for global demand recovery. 

New York's oil futures market begins the week down 1.2% after already falling 2% on Friday. The Barrel of West Texas Intermediate (WTI) type for delivery in July fell to $ 32.86 on the morning of Monday (25) in Singapore.

Brent, a benchmark for production in Brazil, began the second with a drop of 1.5%, with the barrel for July quoted at US$ 34.60 in the European futures market. 


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