Oil Prices Dip as U.S.-EU Trade War Looms

Oil prices drifted lower early Tuesday in Asian markets, weighed down by escalating trade tensions between the world’s largest economies and mounting signs of rising crude supply. The looming threat of an economic slowdown with the potential to curb fuel demand growth is driving bearish sentiment. At the time of writing, Brent crude was down 0.71% at $68.72 a barrel, while U.S. West Texas Intermediate (WTI) crude had slipped 0.60% to $66.80 a barrel. The declines follow modest losses on Monday, with both benchmarks struggling for direction…