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Oil's Rally Stalls Below $60 as U.S.-China Trade Jitters Return

From bnnbloomberg.ca

Oil’s rally stuttered after China is said to be pushing back against American demands in trade negotiations, stoking concerns over growth that underpins energy demand. Futures were down 0.3 percent in New York after closing 0.1 percent lower Tuesday. Fresh concerns over the ongoing trade talks between the U.S. and China cast a shadow over the outlook for the global economy and demand for crude. Still, the downside was cushioned by an American Petroleum Institute report that was said to show U.S. crude stockpiles declined 2.13 million barrels last week ahead of government data Wednesday. Crude has surged 30 percent ... (full story)

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  • Category: Fundamental Analysis