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USL - The Trade War Hits Oil. Where Does Crude Go From Here?
United States 12 Month Oil
By Kathy Lien
At a Glance
As equity markets experience sell-off on trade war news, oil may follow them lower.
The impact for oil in U.S.-China tensions could be far greater than in past trade wars.
This has been a great year for oil. The price of crude is up 30 percent from its December low and oil bulls are wondering if there's more room to rise. The economy is recovering, and many central bankers, including Federal Reserve Chairman Jerome Powell, feel that uncertainty is easing and global growth is improving.