💨 Abstract

Crude oil prices fell on Tuesday due to trade war escalation between the US and China, as China imposed tariffs on US coal, LNG, and crude oil, and the US delayed tariffs on Canada and Mexico for a month. The ongoing trade tensions may dampen oil demand and lead to continued price pressure. China's counter-tariffs on the US may signal escalation and reduce the likelihood of a temporary resolution.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖