China has begun imposing new tariffs to crude oil from the U.S. In the continued escalation to Trump’s trade war, China also filed a complaint against the United States at the World Trade Organization (WTO).
West Texas Intermediate crude for the October delivery CLV19, -3.43% was down $1, or 1.8%, to reach $54.10 a barrel on the New York Mercantile Exchange. In August, front-month prices for the U.S. benchmark suffered a 5.9% monthly decline, according to Dow Jones Market Data.
Last week Trump demanded U.S manufacturing Companies move out of China.