Oil suffers its worst week of the year as trade fears linger [MSN Money]
CME Group Inc. - Class A (CME)
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Source: MSN Money
Oil suffers its worst week of the year as trade fears linger Oil limped to its worst weekly loss of the year as tsions lingered over how the trade feud betwe the world’s top economic super powers will hit demand. Futur in New York rebounded somewhat on Friday bus still ded the week down 6.6%, the biggt decline since late December, after days of calating rhetoric betwe China and the U.S. Chine voy Cui Tiankai said the Asian nation was committed to striking a deal on Friday but said it’s ready to apply countermeasur to American sanctions. "The worri over the trade situation with China is becoming more pronounced here," said John Kilduff, a partner at Again Capital LLC. “It really strik at the heart of the demand side of the equation of crude oil and the fallout is across the Asian region." Oil plunged 5.7% in New York on Thursday as invtors fled riskier assets following the White House’s blacklisting of Huawei Technologi Co. and several Chine surveillance compani, mov that have be met w
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