Monday , October 18 2021

The confrontation between the US and China is sinking Brent


The price of a barrel of oil Brent for delivery in October closed at $ 59.81 on the London futures market on Monday, 3.37% less at the end of the previous session.

North Sea oil, a reference in Europe, again notices the effects of the escalation of the US-China trade war, which allowed for a strong depreciation of the yuan in response to tariffs announced by US President Donald Trump.

The barrel of Brent ended International Exchange Futures Day it was down $ 2.08 compared to the last bargain when it closed at $ 61.89.

China has announced reprisals after Trump announced it would impose duties on Chinese imports worth 300,000 million euros and allow the yuan to depreciate 1.4%, from at least April 2008.

With that in mind, Trump accuses China of "currency manipulation" and calls on the Federal Reserve to act on it through the social network Twitter.

Last Thursday, I fell sharply, falling 7% to rising tensions between the US and China, and despite a rebound late last week when Friday increased its value by 3%, Brent fell below $ 60.

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