Trump Denies Will Meet with President Xi Jinping
Market worries returned to the prospect of oil demand, one of which was triggered by comments from President Trump who denied going to a meeting with Chinese president Xi Jinping to hold talks on trade conflicts.
When asked at the Oval office whether there would be a meeting with President Xi before the deadline for early March, Trump said "no". Even when asked about the possibility of a meeting in the coming months, Trump said, "Not yet, but meetings may occur, maybe too early, too early."
Trump's rebuttal was what put pressure on the US stock market and impacted commodity price movements such as crude oil. For the record, the increase in commodity prices in recent times is not only supported by the potential for a decline in supply, but also driven by market euphoria over rumors that President Trump's meeting will meet with the president of China.
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