Oil gained more than 20 percent in the first half of 2018, and odds have been rising that higher crude oil prices will spark the next economic downturn. This should not come as a surprise for any investor who is a student of market history: The last five U.S. recessions were also preceded by a rise in oil prices.
Protectionism is slowly starting to weigh on the global economy. From demand at factories to company profits and prices consumers are paying, the tit-for-tat trade battle U.S. President Donald Trump started with China and the European Union is starting to show up in numbers. And it’s still early days, with Trump saying Tuesday that “tariffs are the greatest,” a warning that he may not let up until he gets what he wants.
TOKYO (Reuters) - Oil prices rose for a second day on Wednesday after industry group data showed U.S. crude inventories fell more than expected last week, easing worries about oversupply that had dragged on markets in recent sessions.
Crude oil had a great start to the year 2018. The commodity touched $80 per barrel for the first time in almost four years on the back of Organization of Petroleum Exporting Countries’ decision to extend the oil production quotas until end of 2018. Oil companies, such as Chevron (NYSE: CVX), benefited as prices rose.
TOKYO (Reuters) - Oil prices extended losses on Tuesday as attention shifted to the risk of oversupply, with market participants shrugging off escalating tensions between the United States and Iran.
Trade tensions threaten global growth as the engines of leading economies fall out of sync, the world’s top finance chiefs warned on Sunday.