Oil prices drop as trade war concerns haunt market

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Oil prices drop as trade war concerns haunt market GlobeBusiness

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However, crude prices have fallen this week as a Dec. 15 deadline for the next round of U.S. tariffs on Chinese imports loomed over markets. U.S. President Donald Trump does not want to implement the next round of tariffs, U.S. Agriculture Secretary Sonny Perdue said on Monday - but he wants “movement” from China to avoid them.

Data released on Sunday showed exports from China in November fell 1.1 per cent from a year earlier, confounding expectations for a 1 per cent rise in a Reuters poll.

 

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