Collateral damage from the escalating trade war between China and the U.S. has hit oil demand hard and could push prices lower if trade tensions continue to escalate. “It’s bearish. It’s been bearish all along,” said Edward Morse, global head of commodities research at New York-based Citigroup, of the year-long and increasingly tense trade war between the world’s two largest economies. Crude oil prices tumbled again by 1 per cent or 68 cents per barrel midday Tuesday to US$59.13 per barrel as the market continued to digest U.S. President Donald Trump’s decisions to both label China a currency manipulator and threaten ... (full story)