Oil drops 4% on China-U.S. tensions, energy demand doubts

Financial Post | May 22, 2020 at 3:41 PM
  • Oil prices tumbled about 4% on Friday on rising U.S.-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis.
  • Fuel demand plummeted as the coronavirus pandemic caused governments to impose restrictions on movement and businesses closed their doors.
  • Brent crude futures fell $1.53, or 4.2%, to $34.53 a barrel.