PT Solid Gold Berjangka | WTI Oil Closes With a Loss as China’s Economy Continues to Weaken and Geopolitical Tensions Ease
OIL SOLID GOLD BERJANGKA, SG BERJANGKA , SOLID GROUP, PT SGB , SGB
Solid Gold Berjangka | West Texas Intermediate (WTI) crude oil fell on Friday on concerns over the health of the Chinese economy and easing geopolitical fears.
The September West Texas Intermediate contract fell $1.51 to $76.65/bbl, while the October Brent crude, the global benchmark crude, closed down $1.02/bbl at $80.02/bbl.
This was as China, the world’s No. 1 crude oil importer, released a series of weak economic reports as its economy continues to slump amid a debt crisis in the real estate sector, high youth unemployment, and cooling consumer spending.
The sluggish performance of the world’s second-largest company comes as Iran continues to withhold retaliation against Israel for the assassination of key leaders of the militant groups Hezbollah and Hamas earlier this month, as fears of an escalating war in the Middle East recede. Iran has indicated that it is standing by as cease-fire negotiations to end Israel’s war on Hamas in Gaza intensify and the Biden administration pushes for an end to the conflict.
Source: MT Newswire