Oil and Gas Prices Drop Dramatically on Trade War Fears

While potential tariffs on Canada and Mexico have been making all the headlines recently, it is the threat of a prolonged trade war between China and the U.S. that has sparked demand fears and pushed prices down.- Canada’s oil industry has dodged the bullet with the United States’ 25% tariff threat, only to be penalized by a 10% levy on Saturday and then subsequently lifted for a grace period of 30 days, taking oil sands producers to a rollercoaster of emotion this week.- Almost all of Canada’s 4 million b/d flow to the United…