The Traderszone Network

Published in TZ Latest News 11 August, 2015 by The TZ Newswire Staff

Oil prices drop as China allows yuan to fall

Crude oil prices fell again on Wednesday as China allowed its currency to fall sharply for a second day, triggering concerns over the country’s economic health just as oil production hit multi-year highs. Brent futures initially edged up before continuing their slide of the last two months as China’s yuan hit a four-year low, slipping further a day after authorities devalued the yuan in a move to support its struggling economy and which sparked fears of a global currency war.

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