TOKYO: Oil headed for its biggest drop in more than a week as signs the worsening US-China trade war will take a toll on global economic growth overshadowed the prospect of Opec and its allies extending production curbs.
Futures in New York fell as much as 1% after Federal Reserve Bank of Boston president Eric Rosengren said the trade standoff is adding a downside risk to his economic forecasts and the Organisation for Economic Cooperation and Development (OECD) downgraded its projection for global growth.
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