¬†Crude futures tumbled Wednesday, with concerns of an escalated trade war between the US and China outweighing a 12.6 million-barrel draw in US crude inventories. Receive daily email alerts, subscriber notes & personalize your experience. Register Now ICE September Brent settled $5.46 lower at $73.40/b, while NYMEX August crude settled $3.73/b lower at $70.38/b. In refined products, August NYMEX heating oil fell 12.10 cents to settle at $2.1008/gal, and August RBOB settled 9.89 cents lower at $2.0614/gal. Crude longs were less focused on the US crude stock draw, and more focused on news that US President Donald Trump said the administration was moving forward with new tariffs on $200 billion of Chinese imports. This renewed trade war jitters, causing the equities to tumble. Following the NYMEX close, the Dow Jones Industrial Average was down 183 points at 24,736, coming off an intra-day low of 24,671. Any […]