Oil Price War: Is It Game Over For Trump?

The U.S. government is trying to convince Russia and Saudi Arabia to end the price war, but the Trump administration has few tools at its disposal.  Saudi Arabia has already hired additional supertankers and a wave of additional supply is about to set sail, according to Bloomberg. In the last week of March, exports rose to 9 million barrels per day (mb/d), up from a rate of 7 mb/d earlier in the month.  Saudi Aramco has also apparently funneled a lot of oil into storage in Egypt, “a stepping stone to the European market,”…