Commodities
Oil Edges Up as US Stockpile Decline Overshadows Wider Trade War
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Oil edged higher as signs of tighter near-term supply-and-demand balances overshadowed an intensifying global trade war that threatens to crimp global energy consumption.
West Texas Intermediate advanced 0.4% to settle just below $70 a barrel, continuing a three-week rally. A US government report on Wednesday showed the country’s stockpiles shrank by 3.34 million barrels last week to the lowest in a month, helping allay concerns of an oversupplied market.