EnergyWatch

Oil prices sink in response to trade conflict and potential currency war

"Markets are now nervous, not only about a trade war, but also a currency war," says analyst about the development.

Photo: /ritzau/Nabil al-Jurani/Arkiv

The price on both the European reference oil, Brent, and the American WTI oil is declining due to increased fear that oversupply of oil and a low demand could lead to an economic slowdown caused by the trade war between the US and China.

At the same time the price on gold is rising, while copper declines slightly.

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