Oil Prices Rise Despite More Signs of Slowing Global Economy, Brexit Uncertainty
Oil prices rose on Wednesday in Asia even after Japan reported weaker-than-expected core machinery orders, while a Chinese commerce ministry official warned China’s trade faces rising uncertainties this year.
Ren Hongbin, an assistant minister at China’s commerce ministry, made the comment at a news conference.
Meanwhile, Japan’s core machinery orders in November slowed sharply as the U.S.-China trade dispute began to spill into the global economy, adding to concerns that the outlook for the global economy has darkened further.
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