EnergyWatch

Oil prices decline after G20 summit

At the G20 summit held over the weekend, several participants warned that mounting geopolitical tensions and increasingly strained world trade have created heightened risks for global economic growth.

Photo: Nabil al-Jurani

Oil prices decline Monday after the G20 summit in Buenos Aires over the weekend, at which finance ministers and central bank governors from the world's 20 largest economies congregated. Several of the meeting's participants warned that mounting geopolitical tensions and increasingly strained world trade have created heightened risks for global economic growth, writes Reuters and Bloomberg News.

The summit took place in the wake of mounting tensions between the world's two largest economies, the US and China. According to Bloomberg News, investors are increasingly concerned that the trade war between the two countries will escalate and thereby pose a threat to economic growth, thereby limiting energy demand.

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