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Saudi Tensions Lift Oil | Brexit Talks Hit a Wall
Published October 15, 2018
Oil prices rose as tension over the disappearance of a prominent Saudi journalist stoked supply worries. Concerns over the long term demand outlook re-emerged, however, dampening investor sentiment. WTI oil prices reversed gains and fell back below the $72 handle, after rallying to session highs of $72.70.
Negotiations between the UK and the European Union broke up on Sunday without a deal over the issue of the Irish border, three days before a critical summit of European leaders that was intended to mark significant progress on a Brexit agreement.
US President Donald Trump threatened to impose another round of tariffs on China and warned that Chinese meddling in US politics is a bigger problem than Russian involvement in the 2016 election.
European Central Bank President Mario Draghi said Italian officials must stop questioning the euro and need to “calm down” in their budget debate as they have already caused damage to firms and households.