Oil market reacted negatively to a new round of the US-China trade conflict

Both benchmark oil brands fell in price on Tuesday due to concerns over a new round of the US-China trade conflict. August futures for Brent crude by 14:02 Moscow time fell 48 cents to 74 dollars 86 cents a barrel. The price of July WTI crude oil futures fell 99 cents to 64 dollars 86 cents a barrel. American President Donald Trump announced that he was ready to impose 10 percent duties on imported Chinese goods for another $200 billion. According to analysts of the Financial Times, in response to this, Beijing can introduce duties on the import of energy from the US.

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