Oil mixed as U.S.-China trade war drags on prices, while sanctions keep markets tense
LONDON - Oil prices fell on Tuesday as renewed doubts over U.S.-China trade talks stoked jitters over global growth, but losses were tempered by a U.S. military deployment to the Gulf to deter Iran.
“The United States has been losing, for many years, 600 to 800 Billion Dollars a year on Trade. With China we lose 500 Billion Dollars. Sorry, we’re not going to be doing that anymore!” Trump tweeted on Monday. U.S. sanctions have already halved Iranian crude exports over the past year to below 1 million barrels per day , and shipments to customers are expected to drop to as low as 500,000 bpd in May as sanctions tighten.
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