Negative Consequences of the US-China Negotiations
After the dramatic upturn and following the results of the previous session, oil began to fall in price, and traders are increasingly worried about the next result of negotiations between the US and China. The possible consequences of a trade dispute have a big impact on oil price.
The price of oil futures for January is $ 62.17 per barrel on the London Stock Exchange, which is $ 0.23 (0.37%) lower than the value at the end of the previous session.
Futures for WTI crude oil in electronic trading for January on the New York Mercantile Exchange (NYMEX) fell 0.3% to $ 56.84 per barrel.
Recently, the media reported on the completion of a preliminary trade deal between Beijing and Washington, as the parties have not reached a common agreement, although six weeks have passed since the White House announced the approval of the transaction terms by its parties. It is likely that the economic upswing will decline, and shale oil production in the United States will remain high.