Commodities
Oil Rebounds at End of Losing Week as Trade War Roils Markets
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Oil rebounded on Friday, but still notched its second straight weekly decline as the escalating trade war between the world’s two largest economies drove wild volatility.
West Texas Intermediate futures advanced 2.4% to settle at $61.50 a barrel after China raised its tariffs on all US goods to 125%, but said it will pay no attention to further hikes from Washington. Equities rebounded as a selloff in longer-term Treasuries abated, helping buoy the commodity later in the session.