On Wednesday, U.S. president Donald Trump crushed any hopes of a trade deal with China when he announced that China “broke the deal” and that, as a consequence, the U.S. will enforce even higher tariffs on some imports from China starting on Friday, May 10. When the world’s first and second largest economies are quarrelling, it goes without saying that it puts the entire global market on edge. The international oil market is no exception. According to MarketWatch , “Those concerns have more than offset the price-supportive weekly decline in U.S. crude inventories reported Wednesday, though traders continue to keep watch on growing tensions between the U.S. and Iran, which raises the threat of disruptions to Middle East output.” Crude prices in the U.S. fell as well. The West Texas Intermediate crude benchmark “fell 42 cents, or 0.7 percent, to settle at $61.70 a barrel on the New York […]