Economics
Trump Sparks Oil Rally With Iran Tension, Then Rout With Trade War
- U.S. president is ‘most disruptive force’ in market, RBC says
- Oil in New York posts biggest two-day decline since December
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Just over a week ago, crude prices were surging as attacks on Saudi Arabia’s oil tankers and pipeline network spurred fears that the Middle East was on the brink of military confrontation.
In the past two days, however, oil has suffered its biggest losses this year as those concerns are shunted aside by another type of conflict: the escalating trade war between the U.S. and China.