Oil Keeps Dropping as Trump Trade Policy Fans Recession Fears –

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Oil Keeps Dropping as Trump Trade Policy Fans Recession Fears –

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. West Texas Intermediate crude for July dropped 41 cents, or 0.8%, to $53.09 a barrel on the New York Mercantile Exchange at 11:28 a.m. in Singapore.

– June 3, 2019 at 12:02AM

John Jason Fallows

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