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Bloomberg Quint

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Image Credit: Bloomberg Quint

Oil Extends Brutal Selloff As Fresh Tariff Wave Imperils Demand

  • Oil prices have continued to plummet to a four-year low as the ongoing trade war threatens to impact energy demand.
  • Tit-for-tat retaliation between the United States and China has raised concerns of a global recession.
  • The decline in crude oil prices is a result of the aggressive trade agenda of US President Donald Trump and OPEC+ decision to loosen supply curbs.
  • The market outlook remains uncertain with the potential for further downside risk to oil demand.

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