Oil prices turn negative on U.S.-China tensions, corona cases
Oil prices slipped on Friday, shrugging off a weaker U.S. dollar, as tensions between the United States and China rose against a backdrop of rising coronavirus cases.
Brent crude (LCOc1) fell 25 cents to $43.06 a barrel by 0713 GMT, and U.S. West Texas Intermediate (WTI) crude (CLc1) eased 28 cents to $40.79.
China ordered the United States to close its consulate in the city of Chengdu on Friday, responding to a U.S. demand this week that China close its Houston consulate, as relations between the world’s two largest economies deteriorate.
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