US EditionOil Edges Down Amid Bearish Trump Tariff Outlook
UNITED STATES, JUL 10 – Oil prices fell over 2% as tariff threats from U.S. President Donald Trump raised concerns about demand in key markets amid rising U.S. crude inventories, the Energy Information Administration reported.
- On Thursday, West Texas Intermediate crude fell over 2%, dropping to $66.97 per barrel amid fresh U.S. tariff threats and bearish market sentiment.
- The decline followed President Trump's Wednesday warnings of broadening tariffs on Chinese imports and a 50% tariff on Brazilian exports starting August 1.
- Traders also responded to signs of slowing demand in Asia, including a second consecutive monthly drop in Chinese refinery throughput and weak regional export data.
- Analyst Tony Sycamore noted some OPEC+ members are exceeding output quotas, while OANDA’s Kelvin Wong said a weaker U.S. dollar partly supported oil prices.
- These factors suggest continued oil price volatility as tariff uncertainties, mixed supply signals, and weakening demand influence market expectations.
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As trade tensions with the United States escalate, the companies pose an increasing risk. Therefore, Beijing is seeking ways to divest the factories.
Oil prices experienced a fall on Thursday, just as U.S. President Donald Trump made new tariff decisions that could affect global economic growth. According to the original report, published by Reuters, Brent Crude Futures prices dropped 22 cents, equivalent to 0.31%, to $69.97 per barrel. U.S. West Texas Intermediate oil lost 27 cents, or 0.39%, leaving at $68.11 per barrel.Tariff threats and political tensionsOn Wednesday, Trump launched a tar…
Trump Tariff Comments Trigger Oil Price Decline
Crude futures fell over 2% Thursday as traders reacted to fresh tariff threats from U.S. President Donald Trump, raising alarms over future oil demand in key growth markets. At 12:19 p.m. ET, Brent crude was trading down 1.80%, at $68.93 per barrel, while WTI dropped to $66.97, shedding 2.06% on the day. In comments made Wednesday evening, Trump warned of a broadening tariff regime targeting Chinese imports, citing ongoing imbalances and Beijing…
Oil Updates — prices steady amid bearish Trump tariff outlook, weaker
SINGAPORE: Oil prices were steady on Thursday as investors weighed the potential impact of US President Donald Trump’s tariffs on global economic growth, while a weaker dollar and signs of strong US gasoline demand underpinned prices. Brent crude futures were up 4 cents at $70.23 a barrel by 8:00 a.m. Saudi time. US West Texas Intermediate crude fell 1 cent to $68.37 a barrel.
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