Oil Slips as Trump Comments Cast Doubt on U.S.-China Trade Deal
- WTI fell 1.4% Friday but posted its third straight weekly gain
- Trump says accord is near but warns China wants deal more
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Oil fell Friday but still ended the week higher after President Donald Trump said he was “very close” to a trade pact with China but warned that Beijing wants the deal more.
Futures slipped 1.4% in New York on Friday and rose 0.1% for the week, marking the third straight weekly increase. Trump said the the unrest in Hong Kong is a “complicating factor” in an interview on Fox News. Meanwhile, the dollar strengthened, diminishing the appeal of dollar-denominated commodities.