Commodities
Oil Drops as Trump’s Trade War Stokes Concern About Crude Demand
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Oil retreated after US President Donald Trump ratcheted up his trade war with sweeping tariffs on major trading partners, raising concerns that economic turmoil will hurt crude demand.
West Texas Intermediate futures dropped to $70.73 a barrel at 4:59 p.m. New York time in late trading, down 1.4% from their settlement price.