Oil Prices Decline as Investors Continue to Fret over Tariff ImpactSingapore, 10 Mar (ONA) — Oil prices fell today as concern
about the impact of US import tariffs on global economic growth and
fuel demand, as well as rising output from OPEC+ producers.
Brent crude fell 25 cents, or 0.4%, to $70.11 a barrel after
settling up 90 cents on Friday. US West Texas Intermediate crude was
at $66.76 a barrel, down 28 cents, or 0.4%, after closing 68 cents
higher in the previous trading session.
WTI declined for a seventh successive week, the longest losing
streak since November 2023, while Brent was down for a third
consecutive week after US President Donald Trump imposed then delayed
tariffs on its key oil suppliers Canada and Mexico while raising
taxes on Chinese goods. China retaliated against the US and Canada
with tariffs on agricultural products.— Ends/Khalid
