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4 Min ReadHOUSTON (Reuters) - Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing. U.S. crude could fall to around the low-$40 a barrel range unless bearish sentiment changes, but U.S. oil production is still surging and the stock market is signaling rising fears of an economic downturn, said Josh Graves, senior market strategist at RJO Futures in Chicago.
As said here by Collin Eaton