Oil Falls From a Three-Month High Before Key Inventory Report
- Government report may show stockpiles rose a third week
- Trump says in a tweet that deal with China is ‘fully intact’
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Oil slipped from a three-month high before a U.S. government report expected to show another increase in inventories, signaling the market still has its work cut out to clear a massive supply glut.
Crude futures earlier rallied after President Donald Trump insisted the U.S.-China trade deal was “fully intact,” contradicting remarks from a trade adviser that sent markets into a tailspin. While the market has been buoyed in recent days by signs that demand is coming back, renewed fears of a second wave of the coronavirus is spurring some caution.