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Oil tumbles on slowing Chinese demand, U.S.-China trade spat

“Crude oil and refined products affected by additional duties will reduce their competitiveness in the Chinese market.”” writes Midwest Communications Inc for 95kqds.com. NEW YORK (Reuters) – Oil prices slid almost 4 percent on Wednesday as a trade dispute between the United States and China escalated further and after Chinese import data showed a slowdown in energy demand.”The U.S.-China trade war is set to worsen, and its impact on oil prices will be gradual as the situation develops,” said Abhishek Kumar, senior energy analyst at Interfax Energy in London.U.S. West Texas Intermediate (WTI) crude futures fell $2.70 to $66.47 a barrel, a 3.9 percent loss.
Source: 95kqds.com

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