Despite bullish fundamentals this week that saw over 8 million barrels shaved off US inventories, shrinking OPEC production in July, a force majeure declaration by Libya, and continuing tensions in the Persian Gulf, oil prices saw the largest daily loss in years on Thursday after President Donald Trump tweeted that his administration would be putting a “small additional tariff of 10%” on the remaining $300 billion of Chinese goods and products coming to the US. Did US Oil Giants Just Score Big in China? It’s a brilliant turn of…
