The media reported a decline in oil prices due to falling economic growth in the United States and China

Oil prices fell amid a downgrade in the U.S. credit rating and data indicating a slowdown in Chinese production. This was reported by Reuters on May 19.

"Brent crude futures for next month's delivery fell 0.8% to $64.90 per barrel by 06:30 GMT (08:30 Moscow time), while West Texas Intermediate fell 0.7% to $62.04 per barrel," the material says.

According to Priyanka Sachdeva, a senior market analyst at Phillip Nova, the downgrade of the US credit rating by Moody's casts doubt on the prospects for the country's economy, and data on China indicate that the recovery will be long.

Customs is given the go-ahead: the US and China have reached a truce in the trade war

The suspension of "hostilities" in the event of the current tariff conflict does not guarantee an early "peace"

On May 12, American leader Donald Trump announced that the negotiations between China and the United States on trade differences in Geneva had been productive. He noted that the countries have achieved a complete reset of relations and agreed to reduce duties imposed after April 2 to 10% for 90 days.

On the same day, the Xinhua news agency reported on the PRC's decision to suspend or cancel non-tariff countermeasures that were taken against the United States from April 2, 2025. It was clarified that Washington, in turn, plans to change additional customs duties on Chinese goods.