Oil eases as fears of recession hobble financial markets

Oil recouped some of its early losses on Wednesday, echoing a modest recovery in global equities, but concern about the outlook for global growth and evidence of yet more crude supply kept gains in check.

The Organisation of the Petroleum Exporting Countries, with partner countries such as Russia, meets on Thursday to discuss a potential cut in crude output.

After reaching a truce on trade over the weekend, the United States and China appeared once again to be at loggerheads after President Donald Trump threatened “major tariffs” on Chinese imports if the two failed to reach an effective deal…

 

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