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Trump’s foreign policy advisers on Iran? Blow up Iran’s oil industry…

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Fox Business host and Trump whisperer Lou Dobbs appeared to nudge President Trump toward threatening Iran with military strikes on Tuesday night, saying the president shouldn’t get involved in a ground war but instead make it clear that he’ll turn the nation’s oil industry into “dust.”

“Let me just ask you very quickly, why not make it very clear to the ayatollahs that if you mess further with us, we will not commit troops, but we will reduce your entire infrastructure to dust?” Dobbs asked Christian Whiton, a former adviser in the Trump White House.

“And by that, I mean their entire oil industry upon which they’re utterly dependent?” Dobbs added.

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Commodities

Crude Oil slipping half a percent to the weakest closing price since Feb

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U.S. West Texas Intermediate crude futures settled 25 cents lower at $53.25 per barrel, slipping half a percent to the weakest closing price since Feb. 12. Earlier in the session, WTI hit a session high of $54.63 per barrel.

Concerns that a U.S.-China trade war, and threats of tariffs on Mexico from the United States, would diminish global crude demand, however, weighed on oil prices.

“Focus has shifted from the supply to the demand side as a U.S.-China trade agreement has proven elusive and as worries over the debilitating effects of tariffs on global economic growth have now shifted to Mexico,” Jim Ritterbusch of Ritterbusch and Associates said in a note. – read more

Most of the movement for oil has been based on “economic concerns of weakened growth because of the potential impact of [the] trade situation,” said James Williams, energy economist at WTRG Economics. U.S. tariffs on Mexican goods have added to the concerns about China, he said. – marketwatch.com

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Commodities

Crude prices slumped to a three-month low on concerns with Trump’s trade policy

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Oil Opens a New Window. prices slumped to a three-month low Friday as concerns about President Trump’s trade policy Opens a New Window. and the slowdown in the Chinese economy Opens a New Window. cast doubt on the outlook for global demand.

Front-month Brent crude futures, the international benchmark, traded down 2.6% at $63.60, having earlier dipped to their lowest level since mid-February. U.S. benchmark WTI dropped 2.4% to $55.25, its cheapest price since early March. read more @ FoxBiz

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