Oil price balances between growth unrest and Iran sanctions

There is a concern that growth in some of the world's fastest-growing new markets will hit a few speed bumps over the coming period.

Photo: /ritzau/Nabil al-Jurani/Arkiv

The oil price has dived slightly Monday morning after Friday's boost and parties are concerned that growth in some of the world's fastest growing new markets could hit a few speed bumps on the way. Namely, the trade war between the US and China as well as the strengthening US dollar, reports Reuters. This could lead to lower demand for oil and petrol from these countries.

"Lower demand from China, the world’s biggest importer, comes at a critical time when demand growth from Asia in general is being called into question. This due to the negative impact of trade wars, a stronger dollar and rising funding costs," says Ole Hansen, head of commodity strategy at Denmark’s Saxo Bank, according to Reuters.

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