Oil falls 1% amid U.S.-China trade dispute, uncertainty on supply cuts

Credit: Reuters- Published on June 10, 2019
Oil prices fell more than 1% on Monday as U.S.-China trade tensions continued to threaten demand for crude and as major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal.
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Credit: Wochit News
Published on June 9, 2019 -  00:32
Bundesbank's Weidmann Says U.S.-China Trade War Could Reduce World Trade By 1%
According to a report by Reuters, on Sunday, Bundesbank President Jens Weidmann said that a trade dispute between the United States and China could reduce global trade by one percent in the medium term. Following the conclusion of a meeting of G20 finance ministers and central bank governors, Weidmann said, β€œThe world economy is suffering a lot from the uncertainty." He reportedly added that Germany's economy may shrink slightly in the second quarter, however no stimulus was yet necessary.

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