Oil prices extend slide to third straight day, U.S.-China trade doubts grow
SINGAPORE - Oil prices slipped for a third consecutive session on Wednesday as tensions escalated between the United States and China prior to this week’s trade talks, raising uncertainties for global economic growth and oil demand.
Negotiators from the world’s top two economies will meet in Washington on Thursday and Friday in the latest effort to hammer out a deal aimed at ending a long-running trade dispute that has slowed global economic growth. “The market is just over-bearish at the moment, too focused on the demand side of the equation,” Lee said.
An uprising in Iraq has also entered a second week, threatening output at the Organization of the Petroleum Exporting Countries’ second-largest producer.
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