Oil down as U.S.-China trade fears outweigh inventory drop
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LONDON (Reuters) - Oil prices fell on Thursday, reversing earlier gains, as an escalating trade battle between the United States and China counteracted upward pressure from a surprise decline in U.S. crude inventories.Heightened tensions between the world's two biggest economies have clouded the outlook for global growth, which influences oil demand expectations. Global equity markets were hit.Brent crude oil futures were at $70.01 a barrel by 1214 GMT, down 36 cents from their previous..