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Oil prices sink more than 2% as U.S.-China trade spat sparks demand concerns

May 7, 2019

Crude-oil prices dropped on Tuesday amid lingering worries about a protracted trade conflict between the U.S. and China, which could hurt demand for the commodity.

“Oil prices remain volatile, with concerns a trade war could have reduced demand battling for attention that rising tensions in the Middle East could have a negative impact on supply,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.

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