Oil prices edged up on Tuesday, but remained under pressure as the escalating U....
SINGAPORE - Oil prices edged up on Tuesday, but remained under pressure as the escalating U.S.-China trade war stoked concerns over global economic growth and future demand for crude.
The international benchmark fell more than 3% on Monday as traders worried the ongoing trade tensions between the world’s two biggest oil buyers would dent appetite for fuel.A yearlong U.S.-China trade war boiled over as Washington accused Beijing of manipulating its currency after China let the yuan drop to its lowest point in more than a decade.
Iran will no longer tolerate “maritime offences” in the Strait of Hormuz, its foreign minister said on Monday, a day after it seized a second oil tanker near the strategic waterway that it accused of smuggling fuel.
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