Oil dips by 3% after Trump's tariff update - Breaking The News

Oil dips by 3% after Trump's tariff update

1 August

1 min read

EPA/TANNEN MAURY

The prices of oil futures plunged by almost 3% on Friday as investors assessed the impact of United States President Donald Trump's numerous sets of tariffs on different countries and industry sectors that are set to take effect on August 7.

West Texas Intermediate (WTI) for September's deliveries plunged by 3.09% at 12:33 pm ET to $67.18 per barrel. Meanwhile, Brent for settlements in October slid by 3.12% to $69.47 per barrel.

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