Oil prices fell sharply Friday to their lowest levels in more than three months, as concerns about President Trump’s trade policy and the slowdown in the Chinese economy cast doubt on the outlook for global demand. Light, sweet crude for July delivery fell 5.5% to $53.50 a barrel on the New York Mercantile Exchange, its lowest level since Feb. 12. U.S. prices have fallen about 16% in May, the worst month since November when they fell 22%. Brent, the global benchmark, declined 3.6% to $64.49. The steep declines came alongside a broad retreat in riskier assets after President Trump announced ...