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Oil drops 5% on China-U.S. tensions, demand doubts

FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub
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LONDON (Reuters) - Oil fell 5% on Friday to around $34 a barrel as tensions rose between the United States and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.China is set to impose new national security legislation on Hong Kong, prompting a warning from U.S. President Donald Trump. Beijing also failed to set an economic growth target as the pandemic hammers..
Date Published: May 22, 2020
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