Oil set for third straight weekly drop on tariff fears
1. Oil prices increased slightly, but are set for a third weekly decline. 2. Market pressures stem from Trump's renewed trade tensions with China.
FAQ
Why Bearish?
Rising trade tensions typically pressure oil prices. Past examples include declines during trade war escalation.
How important is it?
Trade wars can significantly impact oil prices, affecting commodities like BNO directly.
Why Short Term?
Immediate market reactions are expected from ongoing trade issues, affecting prices quickly.