Oil prices fell during trading on Tuesday, recording a decline for the second consecutive day, amid fears that US tariffs on Canada, Mexico and China will lead to a slowdown in the global economy, which could hurt energy demand, as the OPEC+ group prepares to increase supply. Brent crude fell slightly to $69.24 a barrel, while U.S. West Texas Intermediate crude fell 10 cents, or 0.15 percent, to $65.93 a barrel.
U.S. President Donald Trump's trade policies have roiled global markets, imposing tariffs on Canada and Mexico — two major U.S. oil suppliers — before delaying their implementation, and increasing tariffs on Chinese goods, prompting China and Canada to retaliate in kind.
Source (CNBC Arabia Website, Edited)
