Oil prices dip on economic worries despite tight supply GlobeBusiness
Oil prices fell on Wednesday, dragged down by concerns about global economic growth as the U.S.-China trade dispute rumbled on, but receiving some support from tightened supply.
But there have been mixed signals that the standoff between the world’s top two economies can soon be resolved. “U.S.-China trade talks continue to present a binary risk for the oil market and other risky assets,” BNP Paribas strategist Harry Tchilinguirian told the Reuters Global Oil Forum. Asian business confidence held near three-year lows in the first quarter as the U.S.-China trade dispute dragged on, pulling down a global economy that is already on a downward path, a Thomson Reuters/INSEAD survey found.
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