U.S. oil slips on demand worries; but global crude buoyed by Mideast tensions

U.S. prices settled lower Tuesday as U.S.-China trade woes weighed on energy-demand prospects. However, Middle East tensions provided some support for the global benchmark.

“The U.S.-China trade war…has already surprised markets by intensifying further than anyone initially expected, and because of that, near term risks are skewed to the downside right now,” said Richey.

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