Here is Matt Egan, CNN Business:
βThe tit-for-tat tariffs have already sent crude prices plunging because of fears of a severe global economic slowdown or even recession in the United States that could dent already anemic demand for oil.
But there could also be a supply shock coming. Bank of America Merrill Lynch warned that China could retaliate against US tariffs by purchasing vast amounts of oil from Iran in defiance of Washington’s sanctions on the OPEC nation.β
There is more here…
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