Crude Stumbles as Dour Signs on Trade Truce Add to Economic Woes - Bloomberg:
Oil fell for the third day this week amid signs the U.S. and China aren’t close to resolving their trade spat ahead of a March 1 deadline.
Futures fell 2.5 percent in New York, joining a slide for U.S. equities. Markets hit a wall after White House economic adviser Larry Kudlow said a “sizable distance" remained in negotiations between the world’s two biggest economies. Later in the day, President Donald Trump said he didn’t expect to meet with his Chinese counterpart before the end of the month, when Trump’s threatened to increase tariffs.
“Clearly if we have an all-out trade war, with quite a bit of the market’s growth slated to come from China and other emerging markets, that ain’t bullish for oil," said Kyle Cooper, a Houston-based consultant at Ion Energy Group LLC.
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