August 5, 2019
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1:09Now PlayingCrude oil prices were gently moving upward until President Trump announced a new wave of tariffs against China. The ensuing 8% drop in crude oil prices demonstrated how forcefully trade war rhetoric impacts demand. Enduring issues like overproduction and geopolitical tension continue to play a role, but ultimately balanced oil prices will be determined by the state of play between the world’s biggest oil producer and the world’s biggest oil importer. Insights via @CMEGroup
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