Commodities
Oil Returns to Losses as Market Concerns Over Trade War Persist
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Oil extended a volatile run as investors assessed abrupt shifts in US trade policy, with futures returning to losses following a relief rally on Wednesday.
West Texas Intermediate plunged by 3.7% to settle near $60 a barrel, after flirting with a four-year low throughout the session, while Brent fell to close near $63. In the previous session, prices posted the biggest intraday gain since October. With markets in turmoil, President Donald Trump announced a 90-day halt on higher tariffs against dozens of nations, but he also raised duties on China to 145%.