Oil Falls as Trump’s Trade War Stokes Concerns Demand May Drop
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Oil fell on concerns that the Trump administration’s tariff onslaught will reduce energy demand.
West Texas Intermediate slid 0.8% to settle above $69 a barrel, retreating along with equity markets. Crude still notched its third straight weekly advance amid waning expectations of a near-term oversupply. The US is planning to impose tariffs on auto imports and so-called reciprocal levies next week, widening the global trade war.