COLUMN-Crude oil focuses on Trump, Putin, Bin Salman nexus, but China looms: Russell | Reuters:
The crude oil market is likely to be fixated in coming days on the interactions of U.S. President Donald Trump, his Russian counterpart Vladimir Putin and Saudi Arabia’s embattled Crown Prince Mohammed bin Salman at this weekend’s G20 meeting.
Throw in a dash of U.S.-China trade politics at a much anticipated dinner on Saturday between Trump and President Xi Jingping and the G20 gathering in Buenos Aires is potentially going to deliver a smorgasbord of juicy headlines to drive crude prices.
While the focus of crude oil market participants is correct, and indeed they have little choice but to focus on the machinations of Trump, Putin and Bin Salman, there is always a risk of placing too much emphasis on the politics of oil.
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