Global oil prices slump to an eight-month low Friday, pulling both Brent and West Texas Crude futures into bear market territory.
Global oil prices bounced higher Monday after the U.S. State Department granted a waiver to China to purchase crude from Iran as the first day of sanctions imposed by President Donald Trump came into effect.
As weak PMI data came out, Chinese President Xi Jinping promised cuts to import tariffs, but any major news on a trade deal will wait until after the elections.
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