for Trade War
Even as markets steady, the stronger U.S. dollar remains a headwind for both crude oil and the global economy.
The top forecasters for the oil market have repeatedly downgraded their estimates for demand. Absent a turnaround in global growth, the pitfalls for the oil market may only grow worse.
Crude oil could be much more expensive if not for the U.S.-China trade war—but the danger is that the trade war tips the global economy into a deeper downturn.