Oil Edges Higher as Trade War Weighed Against Threats to Supply
By Sharon ChoBLOOMBERG-14 במאי 2019, 01:34 GMT+3 Updated on 14 במאי 2019, 07:26 GMT+3
China and the U.S. locked in tit-for-tat escalation of tariffs
WTI rises as much as 0.4% after closing 1% lower on Monday
Oil edged higher as investors weighed an escalating U.S.-China trade war that’s jeopardizing the demand outlook against the risk that geopolitical tension in the Middle East will disrupt crude flows.
Futures in New York rose as much as 0.4% after closing down 1% on Monday. The U.S. released a list of about $300 billion of Chinese goods that it’s threatened to hit with a 25% tariff after Beijing announced retaliatory levies on about $60 billion of U.S. imports. Another oil tanker was damagedwhile anchored in the United Arab Emirates, following a spate of attacks on crude carriers on Sunday, adding to an already tense situation in the Persian Gulf