WCU: Oil market rattled by Aramco attack (dubaiprnetwork.com)
September 22, 2019 - Dubai, UAE

A dramatic week in crude oil saw the Brent futures contract jump the most on record before deflating on continued growth and demand concerns. Gold traded higher but within the tightest range in two months, despite heightened geo-political risks, the second US rate cut in this cycle and a softer dollar. Low level trade talks between US and China received attention, with the market quietly hoping for a breakthrough when senior-level negotiations continue in earnest next month.

The year-long trade war was mentioned by the OECD as its main reason for once again lowering the outlook for global growth in 2019 and 2020. It said that global growth momentum had tumbled toward lows last seen during the financial crisis, with protectionist policies taking an increased toll on confidence and investments. Industrial metals traded down but off their lows after China, the world’s biggest metal consumer, lowe ...