Oil slumps 5% to seven-month low on trade tensions, surprise U.S. stock build

August 7, 2019 admin Business News Comments Off on Oil slumps 5% to seven-month low on trade tensions, surprise U.S. stock build

Oil prices tumbled up to 5% on Wednesday to a fresh seven-month low, extending recent heavy losses following an unexpected build in U.S. crude stockpiles and fears of lower crude demand due to deepening U.S.-China trade tensions.

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Source:: Reuters – Business News