Oil deepens decline as China announces tariffs

8 August 2018

This content has been created by X-Trade Brokers Dom Maklerski S.A.

Oil prices are experiencing a heavy sell-off today. Firstly, the DOE report showed smaller-than-expected drop in inventories sending oil prices lower. However, the real blow came minutes later as China announced that the $16 billion of US goods targeted by additional tariffs will include gasoline, diesel as well as other petroleum products. At 4:58 pm BST WTI traded at $66.50 (-3.86%) while Brent was seen at $72.01 (-3.54%).

This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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