Trump's Tariff War Could Also Throw the Oil Market Into Chaos

What are the connections between American, Chinese, Russian, Saudi or Iranian interests? Most investors remain confident that geopolitical tensions – including trade wars – will not escalate. However, even the mildest scenarios would entail significant economic casualties, and the emerging situation could also negatively affect the oil market.

At a private dinner with oil industry representatives at his Florida resort, Mar-a-Lago, Trump reportedly uttered a harsh line: "If I'm not president, you're screwed." But many of those invited are already experiencing a crisis under his presidency. The price of West Texas Intermediate crude, which serves as the US price benchmark, has fallen from $80 to $60 a barrel. This is a critical threshold for shale companies. Lowering oil prices Trump ha…