Oil Prices Slide on Investors Assessing of War Impact
Oil prices fell by about 1% on Wednesday as signs of stronger Chinese crude consumption were outweighed by investor caution about the wider economic impact from U.S. tariffs.Prices have traveled in a tight range as signs of steady demand from an increase in travel during the Northern Hemisphere summer have competed with concerns that U.S. tariffs on trading partners will slow economic growth and fuel consumption.Brent crude futures fell 66 cents, or 0.96%, to $68.05. U.S. West Texas Intermediate crude futures were down 76 cents, or 1.14%, at $65.76.U.S. President Donald Trump has threatened a 30% tariff on imports from the European Union from August 1, a level European officials say is unacceptable and would end normal trade between two of the world’s largest markets.The European Commission is preparing to target 72 billion euros ($84.1 billion) of U.S. goods for possible tariffs if talks with Washington fail to secure a trade agreement.Trump also said on Monday that the United States will impose “very severe tariffs” on Russia in 50 days if there is no deal to stop the war in Ukraine.
Recent Posts
Europe Faces Most Difficult Moment in Bid to Avoid Split With US
Toripalimab Presents Long-Term Survival Benefits as 1st-line Treatment for Advanced Nasopharyngeal Carcinoma and Esophageal Squamous Cell Carcinoma Patients
Hastings Racecourse in Vancouver to shut down permanently, operator says
Russia’s Vital Oil Trade With India Is Down, But Not Out
Copper Quest Closes $1,927,000 Private Placement
This TSX stock was up 17% this week and it could gain another 36%, analysts say
AMC Entertainment Holdings, Inc. Transfers the Majority of its Equity Investment in Hycroft Mining Holding Corporation to Sprott Mining for a Net Consideration of $24.1 million
Guardian Capital Announces Estimated 2025 Annual Non-Cash Distributions for Guardian Capital ETFs
Emera Renews At-The-Market Equity Program
CRA warns of ‘aggressive tax schemes’ involving critical illness insurance
