India, Aug. 1 -- Crude oil prices fell on Friday, as demand concerns due to potentially reduced consumption in oil and energy increased amid a new tariff regime kickstarted by the US government.
Today, WTI Crude Oil for September delivery was last seen trading down by $1.92 (or 2.77%) at $67.34 per barrel.
In an historic move, US President Donald Trump reordered the global economy by signing an executive order to impose new tariffs on 69 countries trading with the US, with levies ranging anywhere from 15% to 41%. The tariffs are set to take effect from August 7 to give room for officials to prepare for the tax collections.
Nations that are yet to sign a trade deal with the US are scrambling to find a middle path in the negotiations to so...