An Oil Market On Edge

About every other week you will hear something along the lines of “oil hits such-and-such a high as fear of trade war resides”, or “oil drops again over trade war fears”. Every tweet is etched in stone for the day in question. Today is no different, and on this day, oil has hit a three-week high on Trump’s apparent approval of a “phase-one” trade deal with China, despite the fact that Beijing hasn’t exactly confirmed this. Oil also responded to Trump’s reduction in existing tariffs and cancelation…