Oil Declines Amid Concerns Over U.S.-China Trade Conflict
0006 GMT — Oil declines amid concerns over the U.S.-China trade conflict. Treasury Secretary Bessent said in an interview with CNBC that it is 'up to China' to de-escalate trade tensions with the U.S. 'Recent developments in U.S. trade policy as well as the escalating tit-for-tat between U.S.-China on the trade front do not bode well for global growth,' three members of OCBC's Global Markets Research say in a research report. When economic growth in the U.S. and China slows, areas including industrial activity will be impacted, putting downward pressure on oil demand, they add. Front-month WTI crude oil futures are down 0.3% at $61.86/bbl; front-month Brent crude oil futures are 0.4% lower at $65.61/bbl. (ronnie.harui@wsj.com)
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