Oil prices wiped out earlier gains to dip by more than 2% in early U.S. trade on Tuesday amid renewed concerns that the trade war between the United States and China could slow global economy. As of 9:21 a.m. EDT on Tuesday, the U.S. benchmark, WTI Crude, fell to the $58 per barrel threshold, down by 2.07% on the day at $58.28. The international benchmark, Brent Crude, was trading below the $62 a barrel mark, and was down by 2.02% at $62.04. Oil had stabilized in early Asian trade on Tuesday, as hopes of a diplomatic thaw…
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