Economics
Crude Stumbles as Dour Signs on Trade Truce Add to Economic Woes
- Trump and Xi won’t meet before deadline; Kudlow worries market
- WTI futures slip 2.5 percent, falling for third day this week
Endeavor Energy Resources LP's Big Dog Drilling Rig 22 in the Permian basin outside of Midland, Texas.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
Oil fell for the third day this week amid signs the U.S. and China aren’t close to resolving their trade spat ahead of a March 1 deadline.
Futures fell 2.5 percent in New York, joining a slide for U.S. equities. Markets hit a wall after White House economic adviser Larry Kudlow said a “sizable distance" remained in negotiations between the world’s two biggest economies. Later in the day, President Donald Trump said he didn’t expect to meet with his Chinese counterpart before the end of the month, when Trump’s threatened to increase tariffs.