Oil prices were expected to break the longest winning streak since February Friday amid geopolitical tensions, including concerns over further friction between China and Hong Kong.
Oil Julio West Texas Intermediate
CLN20,
CL.1
it fell $ 1.90, or 5.6%, to $ 32.03 per barrel. On Thursday, the contract rose 1.3% to $ 33.91, the highest since March 10, based on contracts from the previous month, according to Dow Jones Market Data. It also marked the sixth consecutive positive session for oil.
World benchmark crude Brent for July delivery
BRN.1
BRNN20,
it fell $ 1.31, or nearly 4%, to $ 34.75 a barrel. The contract rose 0.9% to $ 36.06 a barrel on Thursday, the highest settlement since March 10.
Oil losses occurred as global stocks and US equity futures fell. Dow Futures
YM00
He lost nearly 200 points to 24,179 on Friday, after a day lost on Wall Street, fueled by trade tensions between Washington and Beijing. Investors may also be prudent to keep perceived risky assets, such as stocks and oil, before the long weekend vacation in the United States and the United Kingdom.
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Investors were also concerned about concerns over further unrest in Hong Kong after learning that the Chinese government was considering a comprehensive national security law that could restrict the territory’s autonomy. Over the past year, there have been increasingly violent protests in the financial center, although the coronavirus epidemic has slowed down some of this activity.
Elsewhere, China’s top economic official said on Friday that the country would not set a growth target for 2020, and pledged to spend more to repair the economic damage caused by the coronavirus epidemic.
Natural gas futures continued to fall after the US Energy Information Administration. United States It reported Thursday that domestic natural gas supplies increased by 81 billion cubic feet during the week ending May 15. June natural gas
NGM20,
it fell 0.8% to $ 1.69 per million British thermal units.
June Essence
RBM20,
fell 2.7% to $ 1.0168 per gallon and June heating oil
HOM20,
It fell 3.2% to 95.68 cents per gallon.