Oil Prices Rollercoaster: Trade War Fears & OPEC Moves Spark 5-Month Lows
Trade War Volatility Hits Oil Oil markets this week have been buffeted by the ebb and flow of US-China trade developments. On Oct 10, Trump’s threat of massive new tariffs on Chinese imports sent Brent and WTI tumbling over 4%, to lows not seen since May reuters.com. The sell-off reflected a broader shift to “risk-off” sentiment, as UBS’s Giovanni Staunovo noted that Trump’s announcement drove oil down reuters.com. However, reports that a Trump-Xi meeting was back on track (tentatively planned for late October in South Korea) sparked a relief rally on Monday (Oct 13). Brent jumped nearly 1% to $63.32
