Oil drops as China devalues Yuan

Note: This section contains information in English only.
Source: CNBC

Crude oil futures slumped on Tuesday, pausing from Monday's rally, as China devalued the national currency, raising concerns on demand for oil in the second biggest economy. WTI futures slid 0.73% at $44.63 per barrel, while Brent futures fell 0.60% to $50.11 per barrel. The pressure on oil prices also came from the firmer Greenback and trader's cautious expectations of the US stockpiles figures.


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Tue, 11 Aug 2015 12:07:05 GMT

US stock futures in red amid China's currency shock

Equity markets in the US are expected to open in the red on Tuesday, led mainly by companies exporting their goods to China, where the PBoE decided to devaluate the Yuan. Futures for the DJIA declined 0.4%, while futures for the S&P 500 index dropped 0.6%. Chinese currency devaluation is expected to weight negatively on luxury good and auto sector

Tue, 11 Aug 2015 09:16:04 GMT

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