Crude oil prices retraced their steps following a major rally that extended over two consecutive trading days. Crude oil prices retraced steps Thursday after two consecutive days of gains as traders cashed in with a focus on the Bank of England’s static rate decision. By Thursday morning, the price for Brent crude oil was up about 6 percent from the start of a week burdened by geopolitical risk and concerns of a trade war. U.S. President Donald Trump on Thursday is expected to add to the pressure with an announcement on new multi-billion dollar tariffs on China. Economists for the Organization for Economic Co-operation and Development said last week the global economy is projected to grow by 3.9 percent for both this year and 2019. Acting Chief Economist Alvaro Pereira, however, added that an escalation of trade tensions would be […]