Shanghai Crude Oil Futures Fall by Limit at Open
Tang Shihua
/SOURCE : yicai

(Yicai Global) June 3 -- Shanghai's crude futures opened down 7 percent Monday, a daily down limit set by the exchange, as worries about worldwide economic slowdown shook investor confidence, fueled by the ratcheting up trade frictions between US and its major trade partners.

The contracts in Shanghai -- which trade medium-sulfur crude -- opened at 429.6 yuan per barrel, down 7.01 percent from their May 31 closing.

Oil prices slumped on May 31 in the US after President Donald Trump threatened illegal immigration-linked punitive tariffs against Mexico, a major American trade partner and crude and auto parts supplier to it.

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Keywords: Crude , Commodity Future , Shanghai