Oil Flirts With Bear Market as Trump Fans Growth Fears on Trade – –
Oil Flirts With Bear Market as Trump Fans Growth Fears on Trade –
While a tense situation in the Middle East has been supporting prices somewhat, the White House indicated over the weekend that it would be willing to negotiate with Iran without preconditions. Meanwhile, whether Russia keeps cooperating with Saudi Arabia on production cuts is shaping up as an important price driver over the next few months. “The oil market continues to trade with extremely high beta to risk as concerns over a global slowdown escalate,” said Stephen Innes, managing partner at SPI Asset Management.
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