Oil prices picked up later in afternoon trading on Thursday after US President Donald Trump suggested that the United States may not raise tariffs on Chinese goods after all, according to Reuters. Trump announced on Thursday that he received a “beautiful” letter from China’s president that suggested that China and the United States “work together” to reach a deal over trade between the two nations. The trade war that has continued to linger in uncertainty looked over the weekend like it would result in an increase in tariffs yet this week, pushing oil prices down as higher tariffs would likely eat away at Chinese demand for crude oil. On Monday, crude oil prices fell as President Trump lashed out over Twitter , saying that “the trade deal with China continues, but too slowly, as they attempt to renegotiate. No!” At the time, President Trump threatened to raise the current […]