US oil market suffering as the trade war escalates ...News

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US oil market suffering as the trade war escalates
The ongoing trade war with China is impacting many industries. Market volatility is being exacerbated by President Trump’s pattern of vacillating between threats and cease-fires on the topic. At the beginning of August, the markets were sent into a tailspin by President Trump’s threat to impose tariffs on another $300 billion of Chinese imports. The markets were broadly impacted, but the energy sector was hit especially hard. Crude oil prices suffered their largest drop in over four years. President Trump subsequently backed off, citing concerns about retail spending headed into the holiday season. As if to further emphasize the risk,

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