World Commodities - WORLD COMMODITIES TRADING - Oil plummets, on track for biggest weekly drop in 2019.
| Author | Kazmi, S. Kamal Hayder |
| Position | Brief article |
Byline: S. Kamal Hayder Kazmi
Oil prices plunged on Thursday, losing about 5% as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six months.
Oil coursed downward with other global markets as concerns grew that the China-US trade conflict was fast turning into a technology cold war between the world's two largest economies.
While the trade war is the main cloud over economic growth and demand predictions, market participants also pointed to weakening US data and overfull US crude stockpiles.
Brent crude futures, the international benchmark, settled down $3.23...
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