[Singapore 4th Reuters]-Crude oil futures in Asian time are modest. It has partially recovered from the low price for the past month on the previous day.
At 0425 GMT, the North Sea Brent futures market price <LCOc1> is $ 0.12 (0.21%) high, $ 58.38 per barrel. US WTI Crude Oil Futures <CLc1> is $ 54.14, an increase of $ 0.20 (0.37%).
Crude oil prices were the lowest on the previous day for the first time in a month against the backdrop of unprecedented indicators related to the US manufacturing industry, but have recovered in today's transactions.
Zhongxin / Markit announced today that the China Service Division Purchasing Managers' Index (PMI) was the highest in three months. New businesses increased and employment expanded at the pace of over a year.
Meanwhile, US President Trump stressed that trade talks with China are making good progress on the 3rd, but that negotiations will become more difficult if negotiations carry over to their second term. There is growing concern that the US-China trade friction could cause a US recession.
“There are growing concerns about the risk of a recession among market participants,” said Steven Ines, market strategist at Axis Trader. “Considering that tariffs are a significant threat to US growth and the health of the world economy, oil pressures will continue to be under pressure, especially if trade and tariff wars show no signs of easing.” .