Brent crude futures slid 76 cents, or 1.06%, to $71 a barrel while US West Texas Intermediate crude futures were at $65.75 a barrel, down 75 cents, or 1.10%. Trump said on Saturday he would raise a temporary tariff from 10% to 15% on US imports from all countries, the maximum level allowed under the law, after the US Supreme Court struck down his previous tariff programme.
“The tariff news over the weekend has resulted in some risk aversion flows this morning, which can be viewed in the price of gold and US equity futures and this is weighing on the crude oil price,” IG Markets Analyst, Tony Sycamore said.
–Reuters–
