Crude oil prices may come under severe selling pressure if US-China trade war negotiations severely deteriorate against the backdrop of weakening global growth. While the geopolitical risk premium in the Middle East regarding tensions over Iran have helped crude oil prices, they may ultimately capitulate the downward pressure of weakening global demand. Last week, US President Donald Trump announced China and the US were close to reaching “Phase 1” in their multi-sequential trade agreement, though the former insisted on more talks before signing anything and moving on to Phase 2. However, diplomatic relations between ... (full story)