Oil selloff intensifies on Covid fears and risk of US-China intervention

The oil market has gone from booming to busting , much to the relief of inflation-weary American drivers ahead of the Thanksgiving holiday. AAPL STZ TSLA AMZN US crude tumbled as much as 3.5% on Friday, hitting a fresh six-week low of $76.17 a barrel. In just nine days, oil prices have sunk 10%. That’s good news for American drivers hurt by the seven-year high in gasoline prices — a crunch that has soured consumers’ views on the US economy. “We will definitely see some pricing relief on gasoline at the pump,” Tom Kloza, president of the Oil Price Information…