OPEC market expectations and trade war pushes down oil prices

WTI oil in particular plummeted Wednesday as the trade war between the US and China intensified.

Photo: Weatherford PR

Prices on both European Brent crude oil and US WTI oil are dropping. Concerns that the trade war between the US and China will escalate has pushed down prices on the US oil, while OPEC's latest market forecast announcement has impacted the Brent price. The gold price has increased and the copper price decreased.

WTI oil dived Wednesday as the trade war between the US and China worsened after US President Donald Trump announced his plan to impose tariffs of 10 percent on various Chinese goods valued at USD 200 billion.

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