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China drops GDP target for 2020, Brent/WTI both down more than 3%
#china drops GDP target for 2020, Brent/WTI both down more than 3% #ootthttps://t.co/6Uq0tTzJbk
— Christian Schmollinger (@ChristianSchX74) May 22, 2020
Added at 11:51pm
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WTI drops nearly 6% as US-China tension weigh on stocks
WTI faces selling pressure as investors fear escalation of US-China tensions. Asian equities drop, Hong Kong's Hang Seng drops 4%. China plans to impose a national security law on Hong Kong. Oil is flashing red on Friday amid risk aversion in the Asian equity markets. West Texas Intermediate's (WTI) front-month contract is trading near $31.80 at press time, representing a 6.3% drop on the day. Meanwhile, Japan's Nikkei index is down 0.55% and Hong Kong's Hang Seng is reporting a 4% decline. Other major indices are also facing selling pressure. Investors are shunning risk, possibly due to fears that China's decision ... (full story)