The first week of September continued on the course set by August, most of the market motion can be boiled down to the US-China trade conflict jeopardizing growth prospects across the world and US stocks decreasing providing a counteracting short-term relief for crude prices. Trade negotiations with China did not progress much in the past seven days, except for President Trump warning his Chinese counterparts that getting a deal after his (possible) 2020 re-election might be much more difficult than now. Analysts expect a 3 MMbbl drawdown in US…
