Oil prices down nearly 2% as trade war shakes confidence
Updated : August 26, 2019 08:22 AM IST
Brent crude was down 89 cents, or 1.5 percent, at $58.45 a barrel by 0044 GMT, having earlier touched $58.24, the lowest since Aug. 15.
US oil fell $1, or 1.8 percent, to $53.17 a barrel, earlier falling to $52.96, the lowest since Aug. 9.
China’s commerce ministry said late last week it would impose additional tariffs of 5 percent or 10 percent on a total of 5,078 products originating from the United States, including crude oil, agricultural products such as soybeans, and small aircraft.