Global oil prices have fallen on 20 August due to market concerns about low future demand. The oil market had slowed amid US-China trade tensions, however recent optimism that the 1.10 million nations would improve relations to avoid an economic lull has capped losses. Market traders are also conscious of tensions in the Middle East, following US protests against the release of an Iranian tanker held in Gibraltar. Brent crude and US crude are down $0.51 at $59.23-a-barrel and $0.73 at $55.48-a-barrel, respectively. Both were trading positively earlier in the session.
Global oil prices have fallen on 20 August due to market concerns about low future demand. The oil market had slowed amid US-China trade tensions, however recent optimism that the two nations would improve relations to avoid an economic lull has capped losses. Market traders are also conscious of tensions in the Middle East, following US protests against the release of an Iranian tanker held in Gibraltar. Brent crude and US crude are down $0.51 at $59.23-a-barrel and $0.73 at $55.48-a-barrel, respectively. Both were trading positively earlier in the session.