Trump fears political price from oil spike, market turmoil

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Both crises will test Trump’s capacity to work his will on the world stage as well as the strategic viability of his “America First” foreign policy. A tariff battle with China is highlighting a growing great power rivalry. And Russia’s role as a top energy producer with a vested interest in setting global oil prices could open new fronts in a widening confrontation between Washington and Moscow.

The President’s Twitter account is usually a reliable guide to his frustrations and grievances, and apart from a tribute to George H.W. Bush on the day of his funeral, Trump’s feed pulsated with concern Wednesday about market moving events.

He effectively dared ministers of the Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna not to cut production, a move that could reverse a period of lower oil prices and compromise the effectiveness of new US sanctions imposed as part of a new hardline policy on…

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