Oil retreats from four-month highs on reported U.S.-China summit delay

Oil futures reached four-month highs on Thursday, but later dipped after a report that a meeting between the U.S. and Chinese presidents to resolve a trade dispute had been delayed.

Bloomberg reported that U.S. President Donald Trump and Chinese President Xi Jinping may not meet until April at the earliest, after the Wall Street Journal said this month that Xi and Trump could meet around March 27.

A continuation of the tariff war between the world’s top two economies could dent growth in fuel demand and dent prices.

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