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Another Trade War Threat Emerges

Trade War

What Does Hong Kong Have To Do With Oil Prices?

Nothing moves oil up or down right now like the U.S.-China trade war, and what is happening in Hong Kong will likely reverberate on this most economically devastating playing field. The major spike in tensions in Hong Kong this week should be high on the oil investor radar. By mid-Tuesday, police had arrested nearly 300 people in massively intensifying protests, and they spared no-one, whether they were 12 or in their 80s. While this is all going down, Trump is making sure that the Hong Kong Human Rights and Democracy Act doesn’t see the light of day. This bill - already approved by the Senate Foreign Relations Committee - would lead to sanctions against those in Beijing responsible for the Hong Kong crackdown. It’s been stopped in Congress precisely because its passage would put the nix on any trade deal between the U.S. and China. So right now, the Hong Kong protests are being completely hijacked by the trade war, which is also devastating Hong Kong. The bill represents an area well beyond the trade war where Trump isn’t comfortable playing. If Hong Kong’s protests get much more out of hand and someone is forced into action, a U.S.-China trade deal will almost certainly be taken off the table, and we’ll see the oil price needle move more dramatically.  On Tuesday, investors were disappointed, and oil prices dropped Wednesday again after Trump noted that he was close to finalizing a trade…




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