Oil Suffers Worst Day of 2019 as Trade Dispute Swamps Confidence - Bloomberg:
Oil spiraled to its worst daily performance of the year as mounting trade tensions between the world’s biggest economies sent investors fleeing from risky assets.
Futures in New York fell as much as 5.7% on Thursday for the steepest intraday decline since Dec. 24. Equity markets also slumped: the Dow Jones Industrial Average dropped more than 400 points after the Chinese Communist Party’s flagship newspaper published two commentaries warning of a “technology cold war” with the U.S.
West Texas Intermediate crude for July delivery fell 5.2% to $58.21 a barrel at 10:29 a.m. on the New York Mercantile Exchange. Brent, the international crude benchmark, fell as much as 4.9% to $67.53.
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