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US oil slumps as China threatens duty on US crude imports

Mimi Sabreena 3:08:00 PM Informasi

SINGAPORE (June 18): US oil prices slumped on Monday after China threatened duties on American crude imports in an escalating trade dispute with Washington.

US West Texas Intermediate (WTI) crude futures were at US$63.84 a barrel, down US$1.22, or 1.9%, from their last settlement.

In an escalating spat over the American trade deficit with most of its major trading partners, including China, US President Donald Trump last week pushed ahead with hefty tariffs on US$50 billion of Chinese imports, starting on July 6.

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