REFILE-UPDATE 4-Oil down on China tariffs, expected OPEC supply rise [Reuters]
Morgan Stanley (MS)
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Source: Reuters
Oil down on China tariffs, expected OPEC supply rise | Reuters 3 Min Read LONDON (Reuters) - Oil prices fell on Monday after China threatened duties on American crude imports in a trade dispute with Washington, while supply from OPEC and Russia was also expected to rise. U.S. light crude oil CLc1 hit a two-month low of $63.59 a barrel before edging back to $64.00, down $1.06, by 0755 GMT. North Sea Brent LCOc1 was down 36 cents at $73.08 a barrel. In an escalating trade war with many of its major partners, including China, U.S. President Donald Trump last week pushed ahead with tariffs on $50 billion of Chinese imports, starting on July 6. China retaliated by slapping duties on American export products, including crude oil. Benjamin Lu of futures brokerage Phillip Futures said Beijing’s retaliation had spooked oil investors: “These punitive measures on bilateral trade have unnerved investors as it hurts global economic growth,” Lu said. U.S. bank Morgan Stanley said in a note to clien
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MS
Earnings
- 4/16/24 - Beat
MS
Sec Filings
- 4/25/24 - Form 424B2
- 4/25/24 - Form 424B2
- 4/25/24 - Form 424B2
- MS's page on the SEC website