US EditionCrude slumps, Asian shares dip as global tensions climb
Asian shares fell with Japan's Nikkei down 0.25% and oil prices dropped over 1% amid tensions from Venezuela-US to China-Japan trade restrictions, industrial metals surged on supply worries.
8 Articles
8 Articles
Crude futures slid and shares in Asia retreated as markets grappled with the ramifications of the political upheaval in Venezuela and the fate of its petroleum reserves.
Shell and BP shares tumble as Trump ramps up oil pressure
Shares in FTSE 100 oil giants took a tumble on Wednesday morning as President Donald Trump ramped up the pressure on Venezuela to hand over oil. Shell sunk two per cent as markets opened to 2,692p whilst BP was down 2.5 per cent to 420.83p. This weighed on the wider FTSE 100, dragging the index to a 0.3 per cent slump and ending the New Year rally. It came as the price of brent crude – the international benchmark for oil – fell below the $60 mar…
Will Pakistan govt lower fuel prices in next fortnight?
Global oil prices recorded a sharp decline on Wednesday after US President Donald Trump announced that Venezuela would supply between 30 and 50 million barrels of sanctioned oil to the United States. The statement raised concerns about increased supply in the global market, pushing prices lower. Following the announcement, US West Texas Intermediate (WTI) crude fell by 78 cents, or 1.37 per cent, to $56.35 per barrel, while Brent crude futures d…
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