Oil prices fell by about 1.5 percent during trading on Thursday, April 10, amid an escalation of the trade war between the world's two largest economies, and fears of its impact on economic activity and demand for crude.
US President Donald Trump decided to suspend mutual customs tariffs for a period of 90 days, but he decided to increase them on China immediately to 125 percent, up from 104 percent, that began to be implemented.
Oil prices reacted negatively to these developments, with Brent crude futures falling about 1.5 percent to $64.53 a barrel, after falling below $59 on Wednesday. U.S. crude futures fell 1.4 percent to $61.49 a barrel. It had fallen to levels below $56 in Wednesday's session.
Source (CNBC Arabia Website, Edited)
