Oil prices slump on trade concerns and supply expectations

Escalating economic growth concerns over trade and the return of Libya to the oil market on Wednesday sent oil prices lower before markets opened.

A spokesperson for the Chinese Foreign Ministry responded to a U.S. list of tariffs on another $200 billion in goods by saying U.S. President Donald Trumpwas a bully on trade.

“This is a war between unilateralism and multilateralism, between protectionism and free trade, and between power and rules,” spokesperson Hua Chunying was quoted by the official Xinhua News Agency as saying. “China will work with the international community to jointly safeguard the multilateral trading system and rules”…

 

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