Oil prices fell by around 1% on Wednesday on concerns the Sino-U.S. trade war could trigger a global economic downturn, but relatively tight supply amid OPEC output cuts and political tensions in the Middle East offered some support. Front-month Brent crude futures, the international benchmark for oil prices, were at $69.53 a barrel at 0641 GMT, down 58 cents, or 0.8%, from last session’s close. U.S. West Texas Intermediate (WTI) crude futures were at $58.46 per barrel, down 70 cents, or 1.2%, from their last settlement. “Crude oil was weak … primarily as the bears on demand are winning compared to the bulls on supply,” James Mick, managing director and energy portfolio manager with U.S. investment firm Tortoise, said in an investor podcast. “Investors are concerned from a macro […]