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The Motley FoolAug 23, 2019
Here's Why Oil and Gas Stocks Are Getting Crushed Today
China has decided that American oil exports, a relative strength in recent years, are fair game in the trade war.

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MarketWatch MarketPulseAug 23, 2019
U.S. oil futures drop, post a more than 1% loss for the week
Oil futures declined on Friday, posting a loss for the week, following news of China's plan for retaliatory tariffs on U.S. products. President Donald Trump took to social media, tweeting that the U.S. is "better off without" China. The tweets further exacerbated the day's selloff, "as tit-for-tat escalation in the trade war is weighing on economic sentiment and stoking oil demand concerns," said Matt Smith, director of commodity research at ClipperData. October West Texas Intermediate oil lost $1.18, or 2.1%, to settle at $54.17 a barrel on the New York Mercantile Exchange. For the week, prices lost about 1.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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