Trade Wars Spark Uncertainty in Oil Markets

Uncertainty has been rife in oil markets of late as Trump's trade wars threaten global demand just as OPEC+ is set to boost supply and Ukraine peace talks get underway.- US Energy Secretary Chris Wright announced that he plans to work with the Congress to cancel the mandated sales of 100 million barrels of strategic petroleum reserves in 2026-2031 to refill SPR stock.- According to Wright, it would take 5-7 years to refill US strategic oil inventories at a cost of approximately $20 billion, boosting global crude demand by an additional 100,000…